By Atoyebi Nike
The Nigerian Exchange Limited (NGX) has lifted the suspension placed on the shares of International Energy Insurance Plc (IEI), paving the way for trading to resume after more than a month of inactivity.
In a statement to investors and the public, IEI said the suspension, which began on September 1, 2025, was due to delays in finalizing its 2024 audited financial statements. With the accounts now submitted, the company described the lifting of the suspension as “a new chapter” in its recovery and growth efforts.
“The lifting of the suspension marks a new chapter in our journey of recovery and growth. With this step, we are focused on rebuilding investor confidence and delivering long-term value for all stakeholders,” the statement read.
Trading in IEI’s shares, listed under the ticker INTENEGINS, resumed on October 2. The stock has fallen over 10% month-to-date but recorded renewed activity with over 7 million shares traded since the suspension was lifted.
In a related development, IEI announced that it has fully exited its long-standing Daewoo loan. The company settled a JPY 1.85 billion zero-coupon bond originally issued in 2008 and due for repayment in 2028. The settlement followed the transfer of the debt to Norrenberger Advisory Partners Limited (NAPL), which acquired a 50.61% controlling stake in IEI in 2021. NAPL completed the bond repayment in August 2025.
Meanwhile, IEI’s financial performance for the half year ended June 30, 2025, showed a pre-tax profit of ₦679.1 million, down from ₦1.04 billion a year earlier. Insurance revenue declined to ₦2.3 billion from ₦3 billion, while net investment income fell 8.84% to ₦237.2 million.
Total assets increased slightly to ₦17 billion from ₦16.8 billion, while liabilities fell marginally to ₦24.06 billion from ₦24.4 billion in 2024.
With the audited accounts now in the public domain and the bond issue resolved, IEI’s next challenge will be to rebuild investor confidence through stronger operational performance and corporate actions.
