Linkage Assurance Plc Completes ₦16.2bn Rights Issue on NGX
Linkage Assurance Plc has announced the successful completion of its rights issue of 12,320,000,000 shares at ₦1.32 per share, valued at ₦16.2 billion. The shares have been allotted to subscribers and listed on the Nigerian Exchange Limited following SEC approval.
Linkage Assurance Plc (NGX: LINKASSURE) has disclosed the completion of its ₦16.2 billion Rights Issue in a filing dated July 27, 2026. The offer, which opened on March 11, 2026 and closed on April 23, 2026, involved the issuance of 12,320,000,000 new shares priced at ₦1.32 per share.
The company states the issue was fully subscribed. Following approval by the Securities and Exchange Commission (SEC), all shares have been allotted to subscribers and are now listed on the Nigerian Exchange Limited (NGX).
The Rights Issue was undertaken in response to the National Insurance Commission's (NAICOM) directive requiring insurance companies in Nigeria to recapitalise. According to the filing, proceeds from the issue will be applied toward meeting the minimum capital requirement set by regulators and funding business expansion aligned with the company's long-term strategic objectives.
The filing was signed by Moses Omorogbe, Company Secretary.
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