Kathmandu. Today, Chaitra 14, is the last day to apply for the right share of Neco Insurance Company. The company has opened the issue and sale of 25 percent of the current paid-up capital since Falgun 8.
The company has issued 1 new right share in the ratio of 4 existing shares to 1 new share. Accordingly, the insurance company has issued 50 lakh 30 thousand 901.55 right shares with a face value of Rs 100 per share, equivalent to Rs 50 crore 30 lakh 90 thousand 155.
The insurance company had closed its books on Magh 18 for the purpose of issuing the right share. Accordingly, shareholders who have been traded on the Nepal Stock Exchange (NEPSE) till Magh 15 can apply for the right shares.
In the rating conducted for the right share issue, Infomerics Credit Rating Nepal has assigned the insurance an IRN Single A Plus Issuer Rating. This indicates that the ability to meet financial obligations on time is sufficiently safe.
Sanima Capital Limited is the share issuance and sales manager of the insurance. Shareholders can apply from the sales manager as well as the central and regional offices of Neco Insurance. Similarly, banks and financial institutions participating in ASVA services, with permission from the Securities and Exchange Board of Nepal, can also apply through the ASVA system.
Also, shareholders can apply for right shares online using the software ‘Mero Share’ developed by CDS and Clearing Limited.
