Kathmandu. Nepal Reinsurance Company is going to issue 100 percent right shares. The company has decided to submit the proposal to the upcoming General Assembly with the approval of the Ministry of Finance to issue 100 percent rights to the existing shareholders in order to reach the paid-up capital set by the regulatory body Nepal Insurance Authority.
The decision was taken at a meeting of the company’s board of directors held on Wednesday.
At present, the paid-up capital of the company stands at Rs 13.42 billion. As per the directive issued by the NRA on January 1, 2018, the capital has to be increased by mid-January 2082. The rights will be issued after the approval of the company’s upcoming Annual General Meeting and approval by the Regulatory Body Nepal Securities Board.
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