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African Alliance yet to list on Exchange


September 11 , 2008 / PETER OBIORAProshare NI

African Alliance Insurance Company Limited, (AA) which has been acquired 100 percent by The Universal Insurance Company Limited (UNISURE) is yet to list its shares within the stipulated four weeks it promised from June 2008.


Chris Akaigwe, Head, Investment & Portfolio of UNISURE had earlier affirmed to Proshare NI in LagosNigeria that the company would list its shares in about four weeks.


“We planned that the company would be listed in the same way we listed UNISURE” Akaigwe affirmed.


As earlier reported by Proshare NI, Akaigwe had confirmed that African Alliance had already divested part of its holdings as a listing criterion in order to allow fresh investors into the company.


“If you want to list, you would surely be willing to come down on your holding so that others would participate” he said


The company is expected to list its shares following its concluded Private Placement (PP).


Though as at the time of filling in this report, Proshare NI was unable to confirm the current position of issues as regards its delayed listing.

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