SUNU Assurance private placement records 100% subscription
On
Sunu Assurances Nigeria Plc has announced a 100 percent subscription for its private placement exercise.
Disclosing this in a statement, Managing Director of the company, Mr. Samuel Ogbodu said that the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021 has been successful.
He stated that a total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.
He said the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.
He noted that the Securities & Exchange Commission has cleared the basis of allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allotees will be credited with shares allotted not later than February 12, 2021 by the registrars to the i
The National Insurance Commission, NAICOM, has lamented the declining participation of local insurers in big ticket businesses such as aviation, annuity as well as oil and gas risks underwriting.
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Investors in the nation’s stock market lost N426bn on Wednesday as 37 firms recorded price decline.
The market extended its losing streak to the eighth straight trading session amid negative sentiment.
The All-Share Index of the Nigerian Stock Exchange fell by 1.96 per cent to 40,696.01 basis points while the market capitalisation dropped by N426bn to N21.29tn.
The top five losers at the end of trading on the floor of the NSE were CAP Plc, Sunu Assurances Nigeria Plc, eTranzact International Plc, Fidson Healthcare Plc and Regency Alliance Insurance Plc.
CAP, Sunu Assurances Nigeria, eTranzact International, Fidson Healthcare and Regency Alliance Insurance saw their share prices drop by 10 per cent each to close at N18, N0.81, N2.25, N5.40 and N0.27 respectively.