The management of Mutual Benefits Assurance Plc on Wednesday said Mrs. Adedotun Ogunbiyi, a 5% or more shareholder, has sold 8,570,000 shares of the company at 0.21 kobo per share.
In a notice to the Nigerian Stock Exchange (NSE), she sold about 8,570,000 units of the company’s stocks in her portfolio. In the statement, it was further stated that the shares were offloaded by her at a unit price of 21 kobo on Friday, September 8, 2020, at the exchange.
The insurance company is mainly involved in general and life insurance underwriting (under separate licenses held by the company and its subsidiary respectively), risk management, financial services, microfinance banking and real estate.
The company has progressed into a group with five subsidiary companies namely: Mutual Benefits Life Assurance Limited, Mutual Benefits Assurance Company Liberia, Mutual Benefits Assurance Niger SA, Mutual Benefits Homes and Properties Limited and Mutual Benefits Microfinance Bank Limited.