Neco Insurance Distributes Right Shares, Urges Shareholders to Dematerialize Pending Holdings

Kathmandu  — Neco Insurance Limited has successfully distributed the right shares issued from Falgun 8 to Chaitra 14, 2081 (February 20 to March 27, 2025) and deposited them into the demat accounts of eligible shareholders.

The insurance company had floated a total of 5.3 million units of right shares at a face value of Rs. 100 per unit, in the ratio of 1:4, meaning one right share for every four ordinary shares held.

According to the company, these shares have been listed and registered with both the Nepal Stock Exchange Limited (NEPSE) and CDS and Clearing Limited, and are now actively traded in dematerialized form.

The company had its book closure on Magh 18 (January 31) for the right issue. As such, only those shareholders who had dematerialized their shares and remained listed with NEPSE up to Magh 17 (January 30) have received the right shares in their demat accounts.

However, the company noted that some shareholders have yet to receive their shares due to the lack of dematerialization. It has urged such shareholders to complete the dematerialization process to claim their allotted right shares.

Additionally, shareholders who have pledged their shares as collateral for loans will only receive the right shares in their demat accounts once a No Objection Certificate (NOC) is provided by the respective banks or financial institutions.

RBB Merchant Banking Limited is the designated share registrar for the right issue process.