| IPO Details |
| Company Profile |
| Summary of the Offer |
| Important Highlights |
| Important Dates |
| Advisers and Vendors |
| Historical Financials |
| IPO Prospectus |
| In the News |
| Name | American International Insurance Company (AIICO) plc |
| Security Type | Ordinary |
| Ticker | AIICO |
| Reuters Code | |
| ISIN | NGAIICO00006 |
| Number of Employees | 281 |
| Address | AIICO Plaza |
| Afribank Street | |
| Lagos, Nigeria | |
| Website | www.aiicoplc.com |
| Phone | +234-01-2610651 |
| Fax | +234-01-2617433 |
| info@aiicoplc.com | |
| Nature of Business | Aiico is the largest Life Insurer in Nigeria and a major player in the General Insurance business. Over the last couple of years the company has made a shift from concentrating on Retail insurance to becoming a provider of Wholesale insu r a n ce. Its strength lies in its ability to attract corporate clients and this has seen its assets grow to the excess of N 3 billion. |
| Offer Type | Public Offer | ||||||||||||||||||||
| Offer Method | Offer for Subscription | ||||||||||||||||||||
| Purpose | The Offer is being undertaken to increase the Company’s Shareholders’ Funds and strengthen its capital base, expand retail infrastructure and branch network, and deepen capacity to underwrite risks within the Power, Oil & Gas, Real Estate and Telecommunications sectors. | ||||||||||||||||||||
| Utilization of Proceeds | The net proceeds of the total Offer of N5,275,630,700.00 (after deducting the total cost of the Offer, which is estimated at N224,369,300 representing 4.08% of the gross offer proceeds) will be utilized for upgrading and expansion of branches, Information Technology and enhancement of the Company’s working capital. The net proceeds is expected to be utilized as follows:
*Abuja, Ibadan, Port Harcourt, Kano, Kaduna, Calabar, Onitsha, Enugu, Benin, Aba, Umuahia, Imo, Isolo (Lagos) |
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| Target Investors | |||||||||||||||||||||
| Par Value of each share | NGN 0.50 |
| Authorised Share Capital | 10,000,000,000 |
| Fully Paid Share Capital | 3,109,786,287 |
| Shares Offered for Sale | 2,500,000,000 |
| % of Fully Paid Shares Offered for Sale | 80.39% |
| Offer Price per Share | NGN 2.20 |
| Price Earning (PE) Ratio at Offer Price | |
| Dividend Yield at Offer Price | -- |
| Offer Open Date | Monday, Dec 10, 2007 |
| Offer Close Date | Monday, Dec 31, 2007 |
| Allocation Begin Date | Tuesday, Jan 15, 2008 |
| Allocations End Date | Wednesday, Jan 30, 2008 |
| Results of Allocation Announced | Monday, Feb 04, 2008 |
| Crediting of CDS Accounts with Shares | Monday, Feb 18, 2008 |
| Dispatch of Share Certificates | Monday, Feb 18, 2008 |
| Dispatch of refund checks (if applicable) | Monday, Feb 04, 2008 |
| Commencement of Trading on Nigeria Stock Exchange | Monday, Mar 03, 2008 |
| Key Numbers | |
| Fiscal Year End | 31st December |
| Currency | -- (--) |
| Sales (in millions) | -- |
| 1 Year Sales Growth | -- |
| Annual Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | December 31, 2006 | |
| Sales | -- | -- | -- | 3,415.85 |
| Pre-Tax Income | -- | -- | -- | 348.80 |
| Net Income | -- | -- | -- | 483.70 |
| Average Shares | -- | -- | -- | -- |
| EPS | -- | -- | -- | 0.13 |
| Total DPS | -- | -- | -- | -- |
| Quarterly Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | -- | |
| Sales | -- | -- | -- | -- |
| Cost of Goods | -- | -- | -- | -- |
| Gross Profit | -- | -- | -- | -- |
| Pretax Income | -- | -- | -- | -- |
| Net Income | -- | -- | -- | -- |
| Average Shares | -- | -- | -- | -- |
| EPS | -- | -- | -- | -- |
| Annual Balance Sheet Summary (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Cash & Equivalents | -- | -- | -- | 474.92 |
| Total Current Assets | -- | -- | -- | 3,748.43 |
| Total Liabilities | -- | -- | -- | 2,834.19 |
| Share Holder Equity | -- | -- | -- | 5,869.96 |
| Long Term Debt | -- | -- | -- | -- |
| Annual Consolidated Cash Flow (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Net cash flows generated from (used in) in operating activities | -- | -- | -- | -3,193.10 |
| Net cash flows generated from (used in) in investing activities | -- | -- | -- | 2,576.47 |
| Net cash flows generated from (used in) in financing activities | -- | -- | -- | 1,347.44 |
Aiico Full Prospectus |
| American International Insurance Company (AIICO) plc |
| Aiico Insurance Plc merges with NFI and Lamda |
| American International Insurance Company (AIICO) plc - 19 Feb, 2007 |