Linkage Assurance Raises N16.3bn To Strengthen Capital Base

Linkage Assurance Plc has announced plans to raise about N16.3bn through a rights issue of 12.32 billion ordinary shares as the company moves to strengthen its capital base and comply with new regulatory requirements in Nigeria’s insurance industry.

The company disclosed that it has secured approval from the Securities and Exchange Commission (SEC) to commence the offer, which will involve the issuance of 12,320,000,000 ordinary shares of N0.50 each at N1.32 per share to existing shareholders.

According to the firm, the rights issue will be offered to shareholders on the basis of two new ordinary shares for every three ordinary shares held as of January 22, 2026.

The offer is scheduled to open on March 11, 2026 and close on April 23, 2026, while the rights will be tradable on the floor of the Nigerian Exchange Limited (NGX) throughout the acceptance period.

Linkage Assurance said the proceeds from the capital raising exercise will be deployed primarily to meet the minimum capital requirements introduced under the Nigeria Insurance Industry Reform Act, 2025, as well as support the company’s expansion into key segments of the insurance market.

The company explained that the rights issue provides existing shareholders the opportunity to increase their equity holdings in the business, thereby deepening their participation in the company’s growth strategy.

“Shareholders are encouraged to participate in the issue through the dedicated online platform,” the company said, noting that the offer can be accessed through a special portal provided for the exercise.

The rights circular detailing the terms of the offer will be distributed to shareholders by the registrars to the issue, Apel Capital Registrars Limited, and will also be available on the company’s website and the registrar’s portal.

In addition to the digital participation channel, the insurer said shareholders may also subscribe through paper participation forms, and through issuing houses and receiving agents listed in the rights circular.

The company advised shareholders seeking further clarification about the rights issue to consult their stockbrokers or financial advisers for guidance on the subscription process and investment implications.

The capital raising move comes as insurance firms in Nigeria continue to reposition their balance sheets in response to regulatory reforms aimed at strengthening underwriting capacity, improving solvency levels, and enhancing the overall stability of the insurance sector.

Linkage Assurance Raises N16.3bn To Strengthen Capital Base is first published on The Whistler Newspaper