Regency Alliance Insurance (REGALINS) Signs Rights Issue Agreement

Regency Alliance Insurance Plc (REGALINS) announced on 17 June 2026 that it has formally signed a Rights Issue Agreement, marking what the company described as a major milestone in its capital raise process. The signing ceremony took place at the company's headquarters in Lagos and was attended by board members, management, issuing houses, legal advisers, and stockbrokers.

The Rights Issue involves 3,201,000,000 ordinary shares of 50 Kobo each, priced at 95 Kobo per share. The offer is structured on the basis of one new ordinary share for every five ordinary shares currently held by eligible shareholders.

According to the filing, proceeds are intended to strengthen the company's capital base, improve underwriting capacity, and fund investments in technology, product innovation, and customer experience. The company also cited bolstering solvency ratios and developing new products targeting SMEs and Gen Z consumers as stated objectives.

The Acceptance List is scheduled to open on 22 June 2026 and close on 3 July 2026. The company stated that all regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX) have been secured ahead of the offer implementation.