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SUNU Assurance records N3bn full offer subscription

Sunu Assurances Nigeria Plc has recorded a 100 per cent subscription for its private placement exercise, the Managing Director of the company, Mr. Samuel Ogbodu…

Sunu Assurances Nigeria Plc has recorded a 100 per cent subscription for its private placement exercise, the Managing Director of the company, Mr. Samuel Ogbodu has said.

Ogbodu in a statement said the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum of January 4, 2021, has been successful.

He stated that a total of two applications for 3,010,800,000 ordinary shares were received in connection with the Private Placement and were found to be valid, accepted and processed accordingly.

He noted that the Securities & Exchange Commission has cleared the Basis of Allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allottees will be credited with shares allotted by February 12, 2021, by the registrars.

Ogbodu also said the company is embarking on the growth phase while it remains committed to its strategic objectives and core values, which will also guide the future and culture of the company.