SUNU Assurances records 100% subscription on private placement

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By Rukayat Adeyemi

Lagos, Feb. 10 ,2021 Sunu Assurances Nigeria Plc on Wednesday said it had recorded 100 per cent subscription on its private placement announced on Jan. 4.

The insurer said this in a notice released in Lagos to announce the result of its private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share .

“A total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.

“All the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.

” The Private Placement exercise is therefore 100 per cent subscribed and Securities and Exchange Commission has cleared the Basis of Allotment stated above as well,” it said.

According to the firm , the Central Security Clearing System (CSCS) accounts of successful allotees will be credited with shares allotted not later than Feb. 12 by the Registrars to the Issue, Crescent Registrars Limited.

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