Nepal Life Investment Company plans a 200% rights issue, offering 2 additional shares for every existing share, and aims to increase its authorized capital from Rs. 5 billion to Rs. 10 billion.
Nepal Life Investment Company has decided to issue a 200% rights share. In a recent board meeting, the company approved offering existing shareholders 2 additional shares for every 1 share held (1:2 ratio). Alongside this rights issue, the company plans to increase its authorized capital from Rs. 5 billion to Rs. 10 billion.
To approve the capital increase and related matters, the company has called its First Annual General Meeting (AGM) on Asoj 8, 2082, at 9:30 AM in Kathmandu. The AGM will also amend the paid-up capital and share structure following the rights issue, and make necessary changes to the memorandum and articles of association.
In addition, the AGM will present the annual report for FY 2081/82, the auditor’s report, and propose the reappointment of P.L. Shrestha & Company as auditors for FY 2082/83, along with approval of their remuneration.
This subsidiary, fully owned by Nepal Life Insurance, was established to mark the 25th anniversary of Nepal Life Insurance entering the insurance market, and has been operated with an investment of approximately Rs. 5 billion.
This article was originally published on https://bajarkochirfar.com. Translated and edited with the help of AI and reviewed by our editorial team.
