Guinea Insurance Plc has applied to the Nigerian Exchange (NGX) for approval to raise N5.30 billion through a rights issue, as part of strategic efforts to strengthen its capital base and align with new regulatory minimum capital standards.

The proposed offer, involving 5,295,200,000 ordinary shares at N1.10 per share, is structured on the basis of two new shares for every three existing shares, with a qualification date of January 21, 2026, for eligible shareholders.

The application, submitted through stockbrokers Forte Financial Limited and Mega Equities Limited, is now awaiting regulatory approval and listing by NGX. Upon clearance, transfer agents will dispatch rights circulars and communicate the offer timetable.