NSE lists Sovereign Trust Additional 4.170bn Ordinary Shares

Mr. Soyinka, MD/CEO, Sovereign Trust Insurance Plc

Sovereign Trust Insurance (STI) Plc additional 4,170,411,648  ordinary shares were on December 23, 2019, listed on the Daily Official List of the Nigerian Stock Exchange (NSE).

This was contained in a letter, signed by the Head, Listings Regulation Department, NSE, Godstime Iwenekhai and sent to the company’s Registrar, Dynamic Portfolio Limited, dated December 23, 2019.

The NSE, in the said letter  stated that  the additional shares listed, is in respect of the Company’s Rights Issue of 4,170,411,648 ordinary shares of 50 kobo each at N0.50 per share based on one (1) new ordinary share for every 2 ordinary shares held as at 15 January 2019.

It noted that at the close of the Offer Period, the Rights Issue was 72.50 per cent subscribed and the additional ordinary shares thus listed have been registered by the Securities and Exchange Commission (SEC).

With this listing of the additional 4,170,411,648 ordinary shares, the total issued and fully paid up shares of Sovereign Trust Insurance Plc has now increased from 8,340,823,296 to 12,511,234,944 ordinary shares.