Neco Insurance Limited to Issue Right Shares worth 503.9 Million
Kathmandu – Neco Insurance Limited has announced plans to issue right shares worth Rs 503.9 million starting February 20. The company will offer 21.23 million shares at a face value of Rs 100 per share, amounting to 25 percent of its paid-up capital of Rs 2.10 billion.
The right share sale will be open from February 20 and will close on March 12 after banking hours. Sanima Capital will manage the sale of these right shares. Shareholders will have the opportunity to apply for 1 new share for every 4 existing shares they hold.
The company has advised investors to carefully review the ‘Provisions and Details Regarding the Issue of Right Shares’ before applying, either in writing or electronically. General investors are encouraged to apply at their own discretion, ensuring they meet the necessary requirements outlined for this right issue.