donne4real | May 27, 2008
Below is the breakdown of the share allottment for the Costain Public Offer. As has become the norm now, the offer was oversubscribed.
| Share Range | % Allotted |
| 1000 - 2500 | 100% |
| 2501 - 5000 | 35% |
| 5001 - 7500 | 32% |
| 7501 - 10000 | 28% |
| 10001 - 20000 | 25% |
| 20001 - 50000 | 22% |
| 50001 - 100000 | 18% |
| 100001 - 500000 | 12% |
| 500001 - 1000000 | 10% |
| 1000001 - 5000000 | 9% |
| 5000001 - 10000000 | 7% |
| 10000000 and above | 4% |
donne4real | May 22, 2008
Proshare NG reports that Reliance Alliance Insurance will be listing its shares soon. Here is the report:
Regency Alliance to list 4.8 billion shares
Regency Alliance Insurance Plc has received the approval of the Securities and Exchange Commission and the Nigerian Stock Exchange to list 4.8 billion ordinary shares of 50 kobo each at N1.75 per share.
This was contained in a statement made available to our correspondent by the company on Wednesday.The statement quoted the company’s Group Managing Director, Mr. Biyi Otegbeye, as saying that the introduction marked a watershed in the history of the company.
He assured investors that the company would make adequate returns on investment by investing in viable ventures. Otegbeye said that the company had gone through a remarkable developmental change since the consolidation of the insurance industry.
He added that it was enhancing all its operations in order to deliver the best services to its numerous clients and become the leading insurance company in the country. “In Regency Alliance, we are ensuring standard in all our services to serve our clients better. We are implementing development strategies to become the leading insurance company in the country,” he said.
He added that the company’s recent in-roads to the West African coast, as well as its strategic investment in the financial services sector, would boost its earning. The MD added that the company had formed strategic alliances with some foreign companies to help its international operations.
The alliances, he said, were aimed at strengthening the company’s capacity and creating business opportunities for it at both regional and international markets.The statement added that market analyses showed that Regency Alliance had the lowest number of shares among public quoted insurance companies.It added that there were indications that its earnings per share, as well as its dividend per share were, therefore, expected to be high.
Regency Alliance was incorporated in 1993 as a private company. In 2007, during the consolidation of the insurance industry, it merged with three other insurance companies. Otegbeye said that the company was expanding its business by investing in the West African Coast.“We are expanding our business outside the shores of Nigeria’s border. The recapitalisation exercise has facilitated the company’s expansion programme, particularly in the West African coast,” he said.
Tags: News, public offer
