Underwriter achieves 126 subscription on right issues
AIICO Insurance Plc has recorded yet another milestone achievement in its recapitalisation journey, as shareholders oversubscribed the right issues to the tune of 126 per cent.
The firm’s Head, Strategic Marketing & Communications, Segun Olalandu, explained that the company recorded about 126 per cent subscription, an indication of shareholders’ excitement at the opportunity and readiness to be part of its promising future.
Shares allotted will be credited immediately to the CSCS accounts of the allottees, he said.
Commenting on the outcome, the Managing Director & CEO, Babatunde Fajemirokun, said: “We were never in doubt about our shareholders’ faith and commitment to our company. They share our thoughts and vision for a much stronger and resilient company, and are positioning themselves to take full advantage of the inherent opportunities.”
Chief Financial Officer, Oladeji Oluwatola, also stated that the company’s market leadership status and unwavering commitments to its various stakeholders have continued to endear investors to the brand.