Newly-listed Nigerian insurance firm eyes West African market


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Newly-listed Nigerian insurance firm eyes West African market

One of Nigeria’s financial institutions, Goldlink Insurance Plc, Tuesday got listed on the Nigerian Stock Exchange (NSE), amid plans to expand its business frontiers to other West African countries, according to the Company Chief Executive Officer, Femi Okunniyi. “As part of our expansion strategy to become a national and regional brand, we plan to open new branches in Ghana and The Gambia very soon, so as to capture the market and expand our business,” Okunniyi said shortly after the company’s shares were listed Tuesday. On the same day, the company listed 9 billion ordinary shares of 50k each at 1.80 naira per share. On its first day of transactions, the stock closed at 1.89 naira, gaining nine kobo. Following the latest listing, the insurance sub-sector now has 26 companies listed. On Monday, another insurance firm, Universal Insurance Plc., was also listed.

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