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United Alliance Company of Nigeria Limited, which is linked to former Board Chairman of Wapic Insurance Aigboje Aig-Imoukhuede has purchased 9.739 million shares in the Insurance Company, according to a filing on the Nigerian Stock Exchange (NSE).
United Alliance Company bought the shares for an average price of N0.33 per share on Monday June 15, 2020.
The total cost of the transaction excluding cost of execution was equivalent to N3.2 million shares.
Aigboje Aig-Imoukhuede through United Alliance Company has been mopping up shares of Wapic Insurance in recent times. Deals have also been happening in the sector as it prepares for a coming consolidation exercise mandated by the regulator NAICOM.