WAICA Re concludes first tranche of capitalization plan with 90% subscription success

Africa’s top reinsurer, WAICA Reinsurance Corporation Plc (WAICA Re) has concluded the first tranche of its three phase capitalization project with a subscription success level of 90 percent. The capitalisation process started in 2016 through a Rights Issue which involved the issue of 14,472,816 ordinary shares at $1.52 per share at a ratio of 0.5669…

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