Guinea Insurance To Raise N5.8bn Through Rights Issue

Guinea Insurance Plc has stated its intention to raise N5.8 billion through a rights issue, aiming to scale up operations, drive innovation, and deliver greater value to shareholders.

The company stated this at the official signing ceremony of its rights issue held on March 16, 2026. The offer comprises a rights issue of 5.295 billion ordinary shares of 50 kobo each at N1.10 per share on the basis of two new shares for every three existing shares held.

Speaking at the event, the Board chairman of Guinea Insurance, Temitope Borishade, expressed optimism about the offer, noting that it represents a major step toward the company’s long-term vision of scaling up operations, driving innovation, and delivering greater value to shareholders.

“This capital raise represents an important step in repositioning the Company to meet these realities while expanding our capacity to deliver innovative insurance solutions across key sectors of the economy. It also represents our commitment to our customers and brokers that our company is repositioning to offer new and improved services, and to our shareholders that the returns on their investments are about to improve significantly,” he said.

The managing director of Guinea Insurance, Ademola Abidogun highlighted that the capital raise was not merely about compliance with regulatory capital requirements.

He noted that it is fundamentally about building a stronger platform for growth, innovation, and long-term value creation.

According to him, the additional capital will strengthen Guinea Insurance’s financial stability and regulatory compliance, expand underwriting capacity across key sectors of the Nigerian economy, support investments in technology and operational efficiency, and enable greater expansion into the under-penetrated retail and SME insurance markets to drive growth and financial inclusion.

He disclosed that the transaction represents a strategic step towards building a stronger company that is better capitalised, more competitive, more innovative, and better positioned to deliver value to its shareholders and protection to its customers.

Also, the group managing director of Anchoria Advisory Services Limited, Sam Chidoka, who represented the lead issuing house, emphasised the commendable growth trajectory of Guinea Insurance Plc from its inception to date.

He urged shareholders to take up their rights once the offer opens and encouraged the wider investing community to take advantage of the opportunity presented by the offer by locking in through traded Rights.