Neco Insurance’s Right Share Application Closes Today

Kathmandu – Neco Insurance Company Limited’s 50% right share offering, which began on Falgun 8 (February 20), is set to close today. The company is issuing a total of 5,030,901.55 units of right shares at a rate of Rs 100 per share, in a ratio of 4:1.

The company had its book closure for the right share issue on Magh 18 (January 31). As a result, only shareholders who were listed before the book closure are eligible to apply for the right shares.

Currently, Neco Insurance’s paid-up capital stands at Rs 2.12 billion. After the allotment of right shares, the company’s paid-up capital is expected to increase to Rs 2.51 billion.

Sanima Capital Limited has been appointed as the issue and sales manager for the right share offering.