The rights issue of Linkage Assurance Plc, involving 12,320,000,000 ordinary shares of 50 Kobo each at N1.32 per share, has been approved by the Securities and Exchange Commission (SEC).
Business Post reports that the underwriting company is offering shareholders on the basis of two new ordinary shares for every three ordinary shares held as of January 22, 2026.
Linkage Assurance, in a notice to the Nigerian Exchange (NGX) Limited, disclosed that the offer opens on March 11, 2026, and closes on April 23, 2026.
Shareholders interested in the rights issue are required to submit the completed participation forms, together with payment or evidence of payment for the full amount payable, on or before Thursday, April 23, 2026, to any of the issuing houses or receiving agents listed in the rights circular.
The insurance firm intends to use funds from the exercise to meet the required minimum capital introduced by the Nigeria Insurance Industry Reform Act, 2025, and to expand into key areas of insurance business.
The disclosure noted that “the rights issue provides existing shareholders with the opportunity to increase their equity holdings in the company, thereby reinforcing their participation in and support of the company.”
It advised shareholders “to contact their stockbrokers and/or financial advisors for further information regarding the offer.”