Monday, November 19, 2018 3:32:33 AM- Nigerian Stock Exchange.

  AIICO jumps on 5 billion Private placement plan


Aug 31 (Lagos) - Shares of AIICO are up more than 5% after the Insurance company filed a notice of an extra ordinary General Meeting to raise 4.4 billion additional shares of 50 Kobo each at N 1.20 per unit. 

AIICO shares rose 7% yesterday and are up more than 6%  this morning at 80 Kobo per unit at the time of writing this article. 

We can expect these shares to rise close to N 1.2 which is the price the new shares are being offered for the placement. 

It is not yet clear who is the investor. 

reporting for on Friday, Aug 31 2018 from Lagos, Nigeria

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