Kathmandu. Kathmandu: Nepal Insurance Company (NIC) is going to open the right shares from July 10. The company is issuing rights in the ratio of 10:3.4783 of the current paid-up capital of Rs 1.89 billion.
According to this, the company has a face value of Rs 657,696,776 with a face value of Rs 657,696,776. It will issue 76 units of right shares to its shareholders.
Shareholders of the company can apply for my shares of banks and financial institutions and CDSC participating in asba service approved by the Securities Board of Nepal in this right. Investors can also apply for the purchase from the central office and branch offices of NIMB Ace Capital, the securities sales manager. Applications for the right shares of the company can be made till August 15.
The company had closed the book for issuing the right shares on June 15. This means that the shareholders who have been retained till June 15 will be able to apply for this right.
After the right sale, the paid-up capital of the company will reach Rs 2.54 billion. The Nepal Insurance Authority (NEA) has fixed the minimum paid-up capital of the non-life insurance company at Rs 2.5 billion. The minimum paid-up capital of the company will be maintained after the right sale.
