Great Nigerian Insurance Plc has officially launched a rights issue following the approval from the Securities and Exchange Commission. The company is offering 6,000,000,000 ordinary shares at a price of N2.60 each, which amounts to a total value of N15.6 billion. Shareholders will have the opportunity to purchase six new ordinary shares for every seven shares they currently hold, allowing them to increase their investment in the company. This move is part of the company's strategy to raise capital for its operations and future growth.
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