By Rosemary Iwunze

Sunu Assurances Nigeria Plc has announced a 100 percent subscription for its private placement exercise.

Disclosing this in a statement, Managing Director of the company, Mr. Samuel Ogbodu said that 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 dated Monday, 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.

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He said the two applications for 3,010,800,000 ordinary shares 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 allotees will be credited with shares allotted not later than February 12, 2021 by the registrars to the issue, Crescent Registrars Limited.

The SUNU boss, posited that 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.

Vanguard News Nigeria

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