United Ajod Insurance to Launch Rights Issue from April 9

Kathmandu – United Ajod Insurance Limited will open its rights share issue on April 9, offering existing shareholders the opportunity to purchase additional shares.

The company is issuing rights shares at a ratio of 10 new shares for every 100 shares held. In total, it plans to issue 2.31 million shares at a face value of NPR 100 each, representing 10% of its current paid-up capital of NPR 2.31 billion.

The book closure for the rights issue was completed on March 01, meaning only shareholders recorded on NEPSE by February 26 are eligible to apply. The application deadline is April 29, within banking hours.

For this issue, ICRA Nepal has assigned the company an “ICRANP Issuer Rating of Triple B,” indicating a moderate level of safety in meeting its financial obligations on time.

Following the completion of the rights issue, the company’s paid-up capital is expected to increase from NPR 2.31 billion to NPR 2.541 billion.

Laxmi Sunrise Capital Limited has been appointed as the issue and sales manager.