Universal Insurance UNIVINSURE Rights Issue 2026 Details

Universal Insurance Plc (UNIVINSURE) has published a Rights Issue advertisement in compliance with the rules of the Securities and Exchange Commission and the listing requirements of the Nigerian Exchange Limited.

The company is offering 2,666,666,667 ordinary shares of 50 kobo each at a subscription price of ₦1.20 per share. The offer is structured on the basis of one new ordinary share for every six ordinary shares held as at the close of business on 30 March 2026. Payment is required in full upon acceptance.

The acceptance list opened on 13 May 2026 and closes on 10 June 2026. Rights Circulars have been mailed to all qualified shareholders, and shareholders who did not receive their circular by 13 May 2026 are advised to contact Carnation Registrars Limited, the company's registrar.

The provisional approval of the NGX has been obtained for trading in the rights between 13 May and 10 June 2026. Shareholders who wish to trade their rights partially or in full may do so on the floor of the NGX during this period.

Shares will be credited to CSCS accounts after allotment. Where payment exceeds ₦10 million, the company requires payment via e-payment mode. Unsubscribed shares will be allotted pro-rata to shareholders who applied for additional shares.