Shareholders of Linkage Assurance Plc who intend to increase their stake in the company can now begin to do so through a rights issue window.
The organisation on Wednesday, March 6, 2026, commenced its N16.3 billion rights issue days after securing approval from the Securities and Exchange Commission (SEC).
Through the exercise, Linkage Assurance is selling to investors a total of 12,320,000,000 ordinary shares of 50 Kobo each at N1.32 per share.
It would be issued to shareholders on the basis of two new ordinary shares for every three ordinary shares held as of Thursday, January 22, 2026.
According to a notice issued by the Nigerian Exchange (NGX) Limited today, the rights issue will close on Thursday, April 23, 2026.
“Trading licence holders are hereby notified that trading in Linkage Assurance Plc’s rights issue of 12,320,000,000 ordinary shares of 50 Kobo each at N1.32 per share on the basis of two new ordinary shares for every existing three ordinary shares held as at the close of business on Thursday, January 22, 2026, opened today, Wednesday, March 11, 2026,” the statement signed by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai, said.
Proceeds from the rights issue would be used by Linkage Assurance to meet the required minimum capital introduced by the Nigeria Insurance Industry Reform Act, 2025, and to expand into key areas of insurance business.