Regency Alliance Insurance Plc has unveiled a N3 billion rights issue aimed at boosting its capital strength, expanding operations and accelerating its digital transformation efforts.
The signing ceremony, held at the company’s headquarters in Lagos, brought together members of the Board of Directors, management, issuing house, legal advisers, stockbrokers and other key stakeholders.
The Rights Issue is structured on the basis of one new ordinary share of 50 kobo each for every five ordinary shares held, giving existing shareholders the opportunity to increase their stake in the company while protecting themselves from dilution.
This was disclosed in a statement by the Acting Chairman, Chief Wale Taiwo, on Wednesday.
Taiwo, during the signing ceremony, held at the company’s headquarters in Lagos, which brought together members of the Board of Directors, management, issuing house, legal advisers, stockbrokers and other key stakeholders, described the occasion as a statement of belief in the company’s
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