Nigerian Stock Exchange: Investments and Allied Insurance to list 28 billion shares.
March 25th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike
Following the successful private placement of Investment and Allied insurance company, the company has concluded plans to list the company properly on the floor of the Nigerian Stock Exchange. The company which is expected to get listed any moment from now is to list 28 billion shares on the floor of the Stock Exchange. It would be recalled that the private placement the company conducted yielded a total of N14 billion.
According to the management of the company the decision to take the company to the Exchange is part of efforts to position it for both local and global challenges, as well as give the Nigerian public the opportunity to benefit from the growth potentials of the company.
The managing director of the company noted that the intention of the company was to broaden its operation and expand its tentacles to other markets within the West African sub region and also informed that the company will soon venture into real estate business, asset management and mortgages.
To meet these objectives, he pointed out that the company would continue to improve on its human capital with training and retraining of the staff to ensure that stakeholders’ interest are met.
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