By Abubakar Yunusa
International Energy Insurance Plc has launched a ₦17.5bn public offer aimed at strengthening its capital base and expanding its operations within Nigeria’s insurance sector.
The company, a Norrenberger firm, announced that the public offer opened on Wednesday, May 20, 2026, and would close on June 11, 2026.
The development followed a formal signing ceremony held on May 11, 2026, at the FF Millennium Tower in Lagos, marking a major step in the firm’s recapitalisation drive and long-term expansion strategy.
Under the arrangement, IEI Plc is offering 5.47 billion ordinary shares of 50 kobo each at ₦3.20 per share to investors.
The company said the fresh capital would strengthen its position in the insurance industry and improve its capacity to deliver specialised general insurance services across the country.
It added that the investment would also boost its underwriting capabilities and enhance competitiveness in Nigeria’s financial services sector.
The transaction is being coordinated by CardinalStone Partners as the Lead Issuing House, while Anchoria Advisory Services, Norrenberger Advisory, and Vetiva Advisory Services Limited are serving as Joint Issuing Houses.
IEI Plc noted that the collaboration among the financial advisers reflected strong market confidence in the company’s renewed business model and future growth prospects.
The firm further stated that the offer presents both institutional and retail investors an opportunity to participate in its next growth phase as it deepens operations and strengthens market presence.
According to the company, it remains committed to operational efficiency and digital transformation as part of efforts to improve service delivery to customers nationwide.
Interested investors were encouraged to subscribe within the offer window to take part in the company’s expansion plans.
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