Lasaco Assurance Lists Additional 9.25bn Shares on NGX

Lasaco Assurance Plc, has announced successful listing of an additional 9.25 billion ordinary shares of 50 Kobo each on the Daily Official List of the Nigerian Exchange Limited (NGX). The listing follows the completion of a private placement exercise conducted by the company. The shares were listed on Thursday, 23 January 2025.

The insurance underwriting firm said following the listing of these new shares, the total issued, and fully paid-up share capital of Lasaco Assurance has increased from 1,833,585,855 to 11,083,585,855 ordinary shares, each with a nominal value of 50 kobo.

According to Lasaco, increase in the company’s share capital is in line with its commitment to strengthening its capital base and supporting its long-term growth objectives. The Company views this successful placement and listing as a significant step in enhancing shareholder value and providing increased liquidity in the market for both current and potential investors.

It said the private placement exercise aims at strengthening the company’s financial position and solidifying its standing within Nigeria’s competitive insurance industry, and supporting the long-term growth of the business.

The company expresses its gratitude to all stakeholders, including investors, for their confidence and continued support as it pursues its growth strategy and further strengthens its position in the Nigerian insurance market.

Lasaco Assurance Plc is one of the financially strong Nigerian insurance companies providing a comprehensive range of life and non-life insurance products to individuals and businesses. The company is deeply committed to business expansion, enhancing customer experience, and strengthening its digital capabilities to continuously deliver innovative insurance solutions while sustaining robust financial performance