Kathmandu. Life Insurance Corporation (LIC Nepal) has converted 1.2 million units of founder shares into ordinary shares.
The founder’s shares have been converted into the general public to change the share structure of the company’s founders and the general public. A total of 1,173,400 units of founder shares of the company have been converted into ordinary shares.
The company’s 20th Annual General Meeting (AGM) passed a proposal to revise the share structure of the founders and the general public. According to this, 5 percent of the founder shares have been converted into public shares.
Now the founder group has 65 percent stake in the company and the general group has 35 percent stake. Prior to this, the founding group had 70 percent stake in the company and the general public had 30 percent stake.
