Nepal Insurance to Issue 34.78% Right Shares
Kathmandu – Nepal Insurance Company Limited is set to issue 34.783 percent right shares starting from Shrawan 6, 2082, following approval from the Securities Board of Nepal (SEBON).
The company is offering a total of 6,576,967.76 units of right shares at a face value of NPR 100 per share in the ratio of 10:3.4783. Only shareholders who held shares until Jestha 29 (June 12), one day before the book closure date of Jestha 30 (June 13), will be eligible to apply for the right shares.
Applications for the right shares will remain open until Shrawan 26 (August 11). Interested shareholders can apply online via Mero Share, or in person at the head office of NIMB Ace Capital in Lazimpat—appointed as the issue manager—as well as its branches in Chipledhunga (Pokhara), Traffic Chowk (Butwal), Adarsh Nagar (Birgunj), and Golchha Chowk (Biratnagar). Applications will also be accepted at all C-ASBA member banks and their designated branch offices across the country.
The right share issuance aims to help the company meet the minimum paid-up capital requirements set by the Nepal Insurance Authority. Nepal Insurance’s current paid-up capital stands at NPR 1.89 billion. After the issuance, the capital will increase to NPR 2.54 billion.