Adedapo Adesanya
By Adedapo Adesanya
The management of Sunu Assurances Plc has revealed that its private placement exercise was fully subscribed at 100 per cent.
The firm had offered for sale about 3 billion units of its shares to private investors at a unit price of N1 and from the information contained in a statement, two offers were received and accepted.
This has now enabled the organisation to raise not less than N3 billion from the transaction and this capital would be used to expand the services of the company.
“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,” the Managing Director of the company, Mr Samuel Ogbodu, said in the statement.
He noted that the Securities and Exchange Commission (SEC) has cleared the Basis of Allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allottees will be credited with shares allotted not later than February 12, 2021, by the Registrars to the issue, Crescent Registrars Limited.
The SUNU boss noted that the company is embarking on the growth phase while it remains committed to its strategic objectives and core values, which will also guide the future and culture of the company.
Sunu Assurances Nigeria Plc, formerly Equity Assurance Plc, is an insurance company offering non-life insurance for the domestic and corporate sectors as well as asset management and health management services.
The company provides comprehensive private motor insurance, fire and special peril insurance services.
