Consolidated Hallmark files N1bn for approval, listing on NSE

Shareholders of Consolidated Hallmark Insurance Plc have been given the opportunity to increase their holdings in the company, as its tries to boost its capital base with new rights’ issues to existing shareholders.

In a statement titled: “Consolidated Hallmark Insurance Plc –proposed Rights issue,” signed by Acting Head, Listings Regulation Department of the NSE, Godstime Iwenekhai, released by the Nigerian Stock Exchange (NSE), dealing members of the exchange were notified on the rights’ issues and subsequent listing.

It read: “Dealing Members are hereby notified that Consolidated Hallmark Insurance Plc (‘Consolidated Hallmark,’’ or ‘’the Company’’) has, through its Stockbroker; Planet Capital Limited, submitted an application to The Nigerian Stock Exchange for approval and listing of a Rights Issue of 1,000,000,000 Ordinary Shares of 50 Kobo each at 50 Kobo per share on the basis of one (1) new Ordinary Shares for every six (6) Ordinary Shares of 50 Kobo held.”

According to the report, August 28th was fixed as the offer’s qualification date of the rights of which approval for listing on the NSE is being awaited.