Fortis Global Completes Share Capital Restructuring on NGX

Fortis Global Insurance Plc has completed its share capital reconstruction, resulting in the listing of 3.23 billion shares on the Nigerian Exchange (NGX).

The restructuring reduces the total number of shares in circulation by consolidating existing units into fewer shares, while maintaining the proportional ownership of shareholders.

According to the NGX weekly report, trading in Fortis Global Insurance shares had earlier been suspended on June 17, 2026, to allow for the restructuring process.

“The Market is hereby notified that the entire 12.911 billion ordinary shares of Fortis Global Insurance were delisted from the daily official list of Nigerian Exchange on July 2, 2026, while the newly reconstructed issued share capital of 3.228 billion ordinary shares of 50 kobo each were also listed on the daily official list of NGX at N3.96 per share,” the exchange stated.

The NGX explained that the move followed approval by shareholders at the company’s Extraordinary General Meeting held on April 4, 2025, and received no objection from the Securities and Exchange Commission (SEC).

It added that the delisting and relisting process was completed in line with regulatory requirements, after which the suspension placed on the company’s securities was lifted.

The development marks a key step in Fortis Global Insurance Plc’s share capital reconstruction, aimed at streamlining its capital structure and improving market efficiency on the Nigerian Exchange.

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