Regency Alliance Plc set for listing
February 19th, 2008 Tunde Brown || tunde.brown@stockmarketnigeria.com
By Tunde Brown
Regency Alliance Plc recently received the approval the Nigerian Stock Exchange to list its 4,850,000,000 ordinary shares of 50k each, at N1.75 per share. This development is coming on the heels of a similar event in very recent times, where two other insurance companies: Universsal Insurance and Goldlink Insurance Plc got listed. The company’s stock is expected to be listed this week.
Stock market operators have hinted that the imminent quotation has been greeted with high expectations as investors continue to book for the stock of the company. They add that the positive outlook of the insurance sub-sector fuels the interest in the company’s stocks, particularly after a capitalization reform that has left it stronger and more formidable. It was equally observed that beyond the industrial upbeat trend expected to rub off on the stock’s performance, Regency Alliance plc has been identified as having the smallest share capital in the industry, a feature it can leverage on for bonus issues in the future.
The insurance sub-sector has experienced a bullish run, and the stock of a company with demonstrated strength in fundamental indices, evidenced in its strategic business positioning in the Oil and Gas industry for five years now, would definitely be any investor’s toast. Regency Alliance Plc is a merger of four pre-consolidation insurance companies namely: Regency Insurance Plc, Nigerian Alliance Assurance Corporation Limited, Destiny Insurance Company Limited and Capital Express General Insurance Limited.
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