International Energy Insurance (IEI) Plc, a company within the Norrenberger group, has announced the start of its N17.5 billion public capital raise, with the offer opening today, May 20, 2026, and scheduled to close on June 11, 2026. The fundraising follows a formal signing event held on May 11, 2026 at the 9th Floor of FF Millennium Tower in Lagos, a step the insurer described as a key milestone in its recapitalisation drive and broader plans for long-term expansion.
As part of the transaction, IEI Plc will make 5,468,750,000 ordinary shares available to investors. Each share carries a nominal value of 50 kobo and will be issued at N3.20 per share. Management said the capital injection is intended to strengthen the firm’s standing in Nigeria’s insurance market and to expand its ability to deliver specialist coverage as a general insurer.
The company added that the funds will help it increase underwriting capacity and sharpen its competitive position within Nigeria’s financial services landscape. The public offer is being led by CardinalStone Partners as the lead issuing house, while Anchoria Advisory Services, Norrenberger Advisory, and Vetiva Advisory Services Limited will act as joint issuing houses. The arrangers said the structure reflects market confidence in IEI’s refreshed business model and its focus on creating sustained shareholder value, with the professional parties bringing experience meant to support execution and ensure alignment with regulatory expectations.
For investors, the offer creates an avenue for both institutional and retail participants to take part in IEI’s next phase of growth as the insurer strengthens its capital base and broadens its footprint across the insurance sector. Looking ahead, IEI said it plans to stay focused on operational improvement and digital transformation to serve a growing client base more effectively, urging eligible investors to submit subscriptions during the announced window.
Prospective subscribers are directed to the company’s public offer page at www.ieiplcng.com/publicoffer for details on the offer terms and subscription process, or to contact any of the issuing houses or their licensed stockbrokers for guidance.
About IEI Plc
International Energy Insurance (IEI) Plc is a general insurance firm listed on the Nigerian Exchange (NGX). It provides specialised underwriting solutions across property and casualty coverage and other related risks, alongside a broad range of general insurance products. Founded in 1969 and headquartered in Lagos, IEI Plc operates as a subsidiary of Norrenberger Financial Group. The insurer is regulated by the National Insurance Commission (NAICOM) under the Nigeria Insurance Industry Reform Act (NIIRA) 2025, and it distributes its products exclusively through licensed brokers.
IEI Plc targets three categories of clients: large corporate organisations, public sector entities, and private individuals. The company is authorised, licensed and supervised by NAICOM (RC.6126).
