Kathmandu. Sun Nepal Life Insurance Company has received permission to issue right shares.
The Securities and Exchange Board of Nepal has granted permission to Sun Nepal Life to issue right shares. The company has received permission to issue right shares in the ratio of 1:0.27 of the current paid-up capital, i.e. 27 percent.
Now the company will issue right shares worth 1 billion 69.632 million rupees of the current paid-up capital. Accordingly, the company will issue a total of 16,96,320 units of right shares with a face value of Rs 100 to its shareholders.
Currently, the company’s paid-up capital is Rs 3,961,160,000. After the right share sale, the company’s paid-up capital will reach Rs 5,311,320,000. Which will be more than the minimum of Rs 5 billion set by the regulatory body Nepal Insurance Authority for life insurance.
Nepal SBI Merchant Banking is the right share sale manager of Sun Nepal Life.
