Kathmandu. Nepal Insurance Company (NIC) has reduced the size of its right shares to be issued to its shareholders.
On the directives of the Securities Board of Nepal, Nepal Insurance has reduced the size of the right shares. The Securities Board of Nepal (SEBI) has issued a directive to issue right shares accordingly as the paid-up capital of the company has been fixed at Rs 1.89 billion by approving bonus shares worth Rs 246.636 million at 15 per cent of the company’s 76th annual general meeting till March 15.
The securities board has allowed the company to issue right shares in the ratio of 10:3.4783 i.e. 34.783 percent of the existing paid-up capital. Now the company has decided to issue right shares accordingly.
Earlier, the company had decided to issue 40 percent right shares in the ratio of 10:4 of the current paid-up capital.
The company has already decided to close the book on June 15 to issue right shares. This means that only the shareholders who have been retained till June 15 will be eligible to fill the right shares of this company.
