SEBON approves to issue 19.23% Right Share of Siddhartha Insurance

  Securities Board of Nepal (SEBON) has given final approval to issue 5.2:1 (19.23%) right shares of Siddhartha insurance Company Limited (SIL). Laxmi Capital Markets Limited has been assigned as the issue manager for right share issue. Siddhartha Insurance’s 15^th AGM held on Poush 22, 2072 had approved 19.23% right share to its existing shareholders. Also the company had distributed 30% bonus share to its shareholders which was approved by the same meeting. The insurance company is proposing to issue 8,62,125 units shares at the face value of Rs 100 each to be issued to the existing shareholders at par. SIL has earned net profit of Rs  8.33 crore in the second quarter of the fiscal year 2073/74 . Its paid up capital stands at  Rs 34.48 crore and after the issuance of 19.23% right share and  30 percent bonus share its paid up capital will rise to Rs 53.44 crore.