AIICO Announces the Proposed Acquisition of Its Subsidiary By FCMB Pension Limited

Proshare

Friday, June 26, 2020 / 11:52 AM / NSE / Header Image Credit: AIICO Insurance


AIICO Insurance Plc (AIICO) hereby notifies the Nigerian Stock Exchange ("NSE") that AIICO has entered into discussions with FCMB Pensions Limited ("FCMB Pensions"), for the sale of 70% stake in its Pension Management subsidiary, AIICO Pensions Managers Limited ("AIICO Pensions") to FCMB Pensions Limited.

The proposed sale is AIICO's stake of 70% and other shareholders stakes of 26% thus bringing the cumulative sale of 96% stake to be purchased by FCMB Pensions.

At the conclusion of the proposed sale, AIICO Pensions shall cease to be a subsidiary of AIICO Insurance Plc. The proposed transaction is subject to the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission.

We shall notify the Nigerian Stock Exchange ("NSE") once the relevant approvals for the transaction are received.


Visit AIICO Insurance Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

Proshare Nigeria Pvt. Ltd.

 

Table:  Q1 2020 Unaudited Results

Proshare Nigeria Pvt. Ltd.

 

Related News

  1. AIICO Notifies of Board Meeting Resolutions...
  2. AIICO Submits an Application for the Approval and Listing of a Rights Issue of 4...
  3. AIICO Lists 4.4bn Shares Arising from Placement to LeapFrog III Nig. Insurance Holdings Ltd
  4. AIICO Notifies of Board Meeting and Closed Period
  5. AIICO Declares N5.9bn PAT in 2019 Q4 Unaudited Results
  6. AIICO 9M 2019: Growth in Net Profit Hits Five-Year High
  7. AIICO Declares N4.69bn PAT in Q3 2019 Results,(SP:N0.69k)
  8. AIICO To Hold EGM On October 14th 2019
  9. AIICO Appoints Mr. Olusola Ajayi As An Executive Director
  10. AIICO Announces The Appointment Of Babatunde Fajemirokun As Managing Director
READ MORE:
Related News
SCROLL TO TOP