Nepal Insurance Issues 34.783% Right Shares from Today

Kathmandu – Nepal Insurance Company Limited has started issuing 34.783 percent right shares from today, aiming to meet the paid-up capital requirement set by the Insurance Authority.

The company received approval from the Nepal Securities Board to issue a total of 65,76,967.76 units of right shares at a face value of Rs 100 per share, in the ratio of 34.783:100.

The book closure for the right issue took place on 30th Jestha (June 13), meaning only shareholders who held shares until 29th Jestha (June 12) are eligible to apply.

Applications can be submitted through NIMB Ace Capital, the issue manager, at its central office and its branch offices in various cities. Eligible shareholders can also apply online via Mero Share or from any C-ASBA member banks and financial institutions and their designated branches.

Currently, the company’s paid-up capital is Rs 1.89 billion. After the right share allotment, the capital will rise to Rs 2.54 billion, aligning with regulatory capital requirements. The last date for application is 26th Shrawan (August 11).