Kathmandu. Nepal Insurance Company is going to open the right share issue from Shrawan 6.
The company is going to issue right share of 10:3.4783 ratio of 34.78 percent of the current paid-up capital of Rs 1.89 billion 878 thousand 231. According to which, the company will issue a total of 65 lakh 76 thousand 967.76 units of right share shares with a face value of Rs 100, equivalent to Rs 657 million 696 thousand 776, to its shareholders.
The shareholders of the company can apply for this right share through banks and financial institutions participating in ASBA service licensed by the Nepal Securities Board and CDSC’s Mero Share. Investors can also apply for purchase from the central office and branch offices of the securities sales manager NIMB S Capital. Arrangements have been made to apply for the company’s right share until Shrawan 26.
The company closed its books on Jestha 30 to issue the rights shares. This means that shareholders who held shares till Jestha 29 will be able to apply for this rights share.
After the rights share sale, the company’s paid-up capital will reach Rs 2.54 billion 8.575 million. The Nepal Insurance Authority has set the minimum paid-up capital of non-life insurance companies at Rs 2.50 billion. The company’s minimum paid-up capital will remain the same after the rights share sale.
