Lasaco Assurance Launches N18.47 Billion Rights Issue

Lasaco Assurance Plc has initiated a rights issue aimed at raising N18.47 billion as part of its strategy to enhance its capital base and support future growth. This announcement was made during a signing ceremony held on Friday at the company's headquarters in Lagos.

The capital raise follows regulatory approval from the Nigerian Exchange Group and the Securities and Exchange Commission. Mr.

Ademoy Shobo, the Managing Director of Lasaco Assurance Plc, noted that the offer consists of 9,236,321,546 ordinary shares priced at N2.00 per share, based on a ratio of five new shares for every six existing shares held. The offer will remain open until the close of business on February 20, 2026.

The expected capital raise will enhance the company's underwriting capacity and support its expansion plans in Nigeria's competitive insurance market. This initiative is part of a broader effort to strengthen the company's financial position and improve its competitiveness in the insurance sector.