Kathmandu. Neco Insurance Limited has allotted the issued right shares. The company has allotted the right shares that were open for sale by extending the deadline from March 1to March 30.
According to the company, the board of directors of the issuing company has allotted 48,05,640 and 20 units of right shares to the shareholders who have applied within the stipulated time.
The company had closed the book for the purpose of issuing right shares on January 15. Therefore, the company had issued 50,30,901 and 55 units of right shares at a face value of Rs 100,000 per share to the existing shareholders for rs 2.1 billion (1 unit of new 1 unit of ordinary share equal to the existing 4 units of ordinary shares) for the existing shareholders.
In the case of applicants who have applied for more shares than their retained rights, the amount for the unallocated right shares will be paid back from Tomorrow, April 15.
The company has also requested all SIASWA members to release the remaining amount for the shares not allotted to them in the bank accounts of the concerned applicants.
