The Nigerian Exchange (NGX) Regulation Limited has allowed the trading in the shares of Fortis Global Insurance Plc.
This followed the completion of the share capital reconstruction of the organisation, which triggered the suspension a few weeks ago.
In a notice dated June 17, 2026, NGX RegCo announced the suspension of the underwriting company because of the exercise.
Yesterday, another notice was issued to inform the investing public of the lifting of the embargo on the securities of the organisation.
A total of 12,911,030,586 ordinary shares of Fortis Global Insurance were delisted, with 3,227,757,647 ordinary shares relisted at N3.96 per share.
“We refer to our market bulletin with reference number NGXREG/IRD/MB68/26/6/17, dated June 17, 2026, wherein the Market was notified that trading in the shares of Fortis Global Insurance Plc was placed on suspension effective Wednesday, June 17, 2026, in preparation for the share reconstruction of the company’s issued shares.
“The market is hereby notified that the entire 12,911,030,586 ordinary shares of Fortis Global Insurance were delisted from the daily official list of Nigerian Exchange Limited (NGX) on July 2, 2026, while the newly reconstructed issued share capital of 3,227,757,647 ordinary shares of 50 Kobo each were also listed on the daily official list of NGX at N3.96 per share.
“The delisting of 12,911,030,586 ordinary shares and listing of 3,227,757,647 ordinary shares on NGX is pursuant to the approval received from the company’s shareholders at its Extraordinary General Meeting (EGM) of April 4, 2025, and the no-objection received from the Securities and Exchange Commission (SEC).
“Consequently, following the completion of the share reconstruction, the suspension placed on the securities of the company has been lifted,” the circular signed by Bonaventure Onwuji, on behalf of the Head of Issuer Regulation Department at NGX RegCo, stated.
