Lasaco Assurance Lists Additional 9.25bn Shares On NGX

Lasaco Assurance Plc has successfully listed an additional 9.25billion ordinary shares of 50 Kobo each on the Daily Official List of the Nigerian Exchange Limited (NGX).

The listing follows the completion of a private placement exercise conducted by the company. The shares were listed on Thursday, 23 January 2025.

Following the listing of these new shares, the total issued, and fully paid-up share capital of Lasaco Assurance Plc has increased from 1,833,585,855 to 11,083,585,855 ordinary shares, each with a nominal value of 50 kobo.

This increase in the company’s share capital is in line with Lasaco Assurance’s commitment to strengthening its capital base and supporting its long-term growth objectives.

The company views this successful placement and listing as a significant step in enhancing shareholder value and providing increased liquidity in the market for both current and potential investors.

The insurer said the private placement exercise aims at strengthening the company’s financial position and solidifying its standing within Nigeria’s competitive insurance industry, and supporting the long-term growth of the business.

The company, however, applauded its stakeholders, including investors, for their confidence and continued support as it pursues its growth strategy and further strengthens its position in the Nigerian insurance market.