The Nigerian Stock Exchange (NSE) yesterday listed additional 2,032,500,000 ordinary shares of Consolidated Hallmark Insurance (CHI Plc).
In a notification to market stock dealers, the NSE said the additional shares arose from the company’s rights issue of the shares done at 52 kobo per share on the basis of one new share for every four ordinary shares held. The Rights Issue was 100 per cent subscribed, fetching the company about N1.056 billion.
Commenting on the successful outing, Group Managing Director/CEO of CHI Plc, Mr. Eddie Efekoha, expressed delight at the good result despite the challenging period the offer was held during look-down occasioned by the COVID-19 pandemic.
“The additional shares listed on The Exchange arose from the Company’s Rights Issue of 2,032,500,000 ordinary shares of 50 kobo each at 52 Kobo per share on the basis of 1 new ordinary shares for every 4 ordinary shares held as at 3 February 2020.
The Rights Issue was 100% subscribed. With this listing of the additional 2,032,500,000 ordinary shares, the total issued and fully paid-up shares of Consolidated Hallmark Insurance Plc has now increased from 8,672,000,000 to 10,704,500,000 ordinary shares of 50 kobo each.”
“It is great to see investors’ confidence and trust in our company being exhibited with the full subscription of the rights offer,” he said.