Nepal Insurance Company Limited is set to issue 34.783% right shares from Shrawan 6 at a ratio of 10:3.4783 to raise its paid-up capital as per the directive of the Insurance Authority.
Nepal Insurance Company Limited has announced that it will issue 34.783% right shares starting from Shrawan 6. The company plans to issue a total of 65,76,967.76 shares at a face value of NPR 100 per share, in the ratio of 10:3.4783. The company has already received approval from the Securities Board of Nepal (SEBON) to proceed with the issuance.
For this right share issuance, the company had closed its book on Jestha 30. Based on this, only shareholders who held shares of the company till Jestha 29, as recorded on the Nepal Stock Exchange (NEPSE), are eligible to apply for the right shares.
The deadline for application submission has been set for Shrawan 26. Interested shareholders can apply through the central office of the issue manager, NIMB Ace Capital, located in Lazimpat, as well as its branch offices in Pokhara (Chipledhunga), Butwal (Traffic Chowk), Birgunj (Adarshanagar), and Biratnagar (Golchachowk).
Additionally, applications can be submitted through all C-ASBA member banks and financial institutions approved by SEBON, including their designated branches. Investors also have the option to apply online through the ‘Mero Share’ platform.
The company is issuing these right shares to increase its paid-up capital as directed by the Insurance Authority. Currently, the paid-up capital of Nepal Insurance stands at NPR 1 arba 89 crore 8 lakh 78 thousand. After the right shares are issued, the capital will increase to NPR 2 arba 54 crore 85 lakh 75 thousand.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
