public offer · closed · awaiting results
International Energy Insurance Plc — a Norrenberger Financial Group company and Nigeria's first energy-focused insurer — ran a ₦17.5 billion public offer to recapitalise ahead of NAICOM's new minimum capital requirements under the Nigeria Insurance Industry Reform Act 2025. It was the only public offer (the seven other insurers in the recapitalisation pipeline chose rights issues), which made it the retail-accessible one.
statusApplication list closed Thursday 11 June 2026 as scheduled. No extension was announced; allotment results had not been published as of 12 June 2026.
offer facts
use of proceeds
Net proceeds estimated at ₦17.02 billion (after ~2.75% issue costs), earmarked for NAICOM minimum-capital compliance and growth, per the prospectus summary:
listed insurance peers
IEI is already listed on the NGX (ticker INTENEGINS). For context on how the market prices listed Nigerian insurers, here are sector peers from our universe — trailing P/E and dividend yield where we have real data.
| ticker | last price | p/e | div yield |
|---|---|---|---|
| INTENEGINSissuer | ₦7.11 | 11.9 | 1.6% |
| AIICO | ₦4.61 | 7.9 | 5.7% |
| NEM | ₦34.00 | 14.6 | 4.4% |
| MANSARD | ₦12.60 | 8.5 | 2.2% |
| CORNERST | ₦5.45 | 16.4 | 5.8% |
| SOVRENINS | ₦2.51 | 13.5 | 2.5% |
| LINKASSURE | ₦1.82 | 14.8 | 3.5% |
End-of-day data from our NGX universe; “—” means we don't have a real figure for that field.
what we don't know
sources
entry last verified 12 Jun 2026
