LIC Nepal Opens Right Share Issue

Kathmandu – Life Insurance Corporation (LIC Nepal) has officially opened its right share issue. The right share is being issued at a ratio of 1:0.8845, meaning shareholders will receive 88.45 percent of new shares for every existing share they hold.

A total of 23.4 million units of right shares, each with a face value of Rs 100, are being offered, amounting to  Rs 2.34 billion . The company had book closure on October 25, which means only those shareholders who held shares until October 24 are eligible to apply for the right shares.

Nepal SBI Merchant Banking has been appointed as the sales manager for this right share issuance. Currently, LIC Nepal’s paid-up capital is Rs 2.65 billion. Once the right shares are distributed, the company’s paid-up capital will rise to Rs 5 billion.