Fortis Global Insurance's Stock Adjusted Gain at 126%

Fortis Global Insurance Plc emerged as the best-performing stock on the Nigerian Exchange in the first nine months of 2026, with its share price increasing by 805% from 20 kobo at the end of 2025 to N1.81 by September 30. However, after a 1-for-4 share reconstruction that began in June 2026, the adjusted gain is reduced to 126.25%, ranking Fortis Global 14th among the NGX’s best-performing stocks.

The reconstruction decreased the number of issued ordinary shares from 12.91 billion to 3.23 billion. Trading was suspended on June 17 and resumed on July 2, 2026, with an adjusted reference price of N3.96.

By September 30, the stock had fallen to N1.81, which is 54.29% below the adjusted reference price. Shareholders’ equity rose to N36.44 billion in June 2026, up 303.21% from N9.04 billion at the end of 2025, driven by N30 billion in irredeemable convertible debt classified as equity.