ZSE-listed insurance group,
The company issued shares by way of a rights offer as it seeks to raise capital internally to bolster operations- an exercise which started last year.
A rights offer is a group of rights offered to existing shareholders to purchase additional stock shares within a company.
"Further to the cautionary announcement dated
"The transaction involves the restructuring of the company's capital structure through the issuance of shares by way of a rights offer. Further details of the transaction will be provided once discussions have been finalized. Shareholders are therefore advised to exercise caution when trading in the Company's shares," the statement read.
Last month the company announced a 154 percent rise in revenue for the nine-months to
The company hopes to refocus on its core-business of insurance going forward following limited fortunes in its property portfolio last year.
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