Kathmandu. The deadline for applying for right shares of Nepal Insurance Company has been extended.
According to securities sales manager NIMB Ace Capital, now the right shares of Nepal Insurance can be applied till the banking time of September 15. Earlier, there was a deadline to apply for this right till August 15.
The company has issued rights in the ratio of 10:3.4783 of the existing paid-up capital of Rs 1.89 billion since July 1. Accordingly, the company has opened a total of 6,576,967.76 units of right shares worth Rs 657.696 million to its shareholders at a face value of Rs 100 each.
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.
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.
