Last day to clinch 50% right share of Prabhu Insurance; Book Closure on Sunday

Today is the last day to get hold of 50% (2:1) right share of Prabhu Insurance Company Limited (PRIN). The register of their shareholders will close on Chaitra 6, 2073. Only those shareholders that have shares traded one trading day ahead of the book closure date i.e. today are eligible to apply for the right shares. ICRA Nepal has assigned Grade 4+ to the right issue, indicating below average fundamentals. Prabhu Insurance has earned Rs 2.97 crore in the second quarter of the FY 2073/74. Its net earnings from premium has increased to Rs 22.25 crore up to the second quarter, an increment of only 3.5% as compared to the corresponding quarter last year. It had distributed 17% bonus share to its shareholders for the fiscal year 2072/73. After the issuance of 50% right, its paid up capital will reach Rs 57.75 crore. Its last traded price (LTP) stand at Rs 1045 as on March 15, 2017.