The Nigerian Exchange Limited (NGX) recorded a significant expansion in the listed share capital of two insurance companies during the week ended August 28, 2026, following the admission of more than 10.4 billion additional ordinary shares belonging to Prestige Assurance Plc and International Energy Insurance Plc.
The supplementary listings, announced by the Exchange in its weekly market report, followed separate capital-raising exercises by the two insurers and substantially increased their respective issued and fully paid-up shares on the Exchange.
Prestige Assurance Plc led the development with the listing of 2,369,390,970 additional ordinary shares of 50 kobo each on Monday, August 24, 2026.
According to NGX, the additional shares arose from the company’s private placement of 3,076,923,100 ordinary shares at ₦1.95 per share.
Following the admission of the new shares, Prestige Assurance’s total issued and fully paid-up shares increased from 13,252,561,888 to 15,621,952,858 ordinary shares.
The same day, International Energy Insurance Plc (IEI) recorded a substantially larger addition to its listed share capital, with 8,075,794,000 ordinary shares of 50 kobo each admitted to the Daily Official List of NGX.
The additional IEI shares arose from the company’s public offer of 5,468,750,000 ordinary shares at ₦3.20 per share, according to the Exchange.
The listing consequently increased International Energy Insurance’s total issued and fully paid-up shares from 1,284,085,489 to 9,359,879,489 ordinary shares.
Combined, the two transactions brought 10,445,184,970 additional shares onto the NGX during the week, marking a notable expansion in the listed equity base of the two insurance companies.
The development comes against the backdrop of a positive week for the broader Nigerian equities market. Despite trading for only four sessions because of the public holiday declared for Eid el Maulud, the NGX All-Share Index appreciated by 0.81 per cent, closing at 241,298.47 points, while market capitalisation rose by 0.84 per cent to ₦155.826 trillion.
However, overall equity trading activity declined during the week, with investors exchanging 2.507 billion shares worth ₦123.223 billion in 173,561 deals, compared with 6.242 billion shares valued at ₦157.764 billion in 186,496 deals recorded in the previous week.
For the insurance sector, the latest listings represent notable changes in the share structures of both companies. International Energy Insurance, in particular, saw its issued share base expand by more than sixfold following the admission of the additional shares.
NGX described the transactions as supplementary listings and included both companies among the notable corporate developments recorded during the week.
The listings demonstrate the role of the Exchange as the platform through which newly issued equity arising from corporate fundraising exercises becomes formally admitted to the Nigerian capital market.
With the additional shares now listed, investors will have the enlarged equity bases reflected in the companies’ listed securities on NGX as trading and other market activities continue.