Guinea Insurance Plc is going to issue 1.8 billion units of common stock at 50 kobo per share in a private placement.

Guinea Insurance Plc has released a statement on the capital raising effort. The statement notes that “the company had obtained the unanimous approval of industry regulators, including the National Insurance Commission, the Securities and Exchange Commission, and the Nigerian Exchange Group, for its board meeting and private placement initiative. This initiative involved the issuance of 1,802,800,000 common shares at 50 Kobo per share

For Guinea Insurance director, Ademola Abidogun, the initiative was consistent with the company's proactive approach to ensuring future growth, increased market share, and a commitment to maximizing returns for investors and partners.