16th AGM of Nepal Life Insurance approves 26.31% bonus share; FPO of 30.96 lakh units shares in pipeline

Nepal Life Insurance Company Limited (NLIC)  16th Annual General Meeting (AGM) held on Jestha 7, 2073 has approved 26.3158 % bonus share to its existing shareholders. At present the promoter public ratio of NLIC stands at 80:20. To maintain at least 30% stake of public shareholders the AGM approved to issue Further Public Offering (FPO) to convert promoter public shareholder structure to 70:30. To make the structure in the ratio 70:30, 30 percent   (30.96 lakh unit) FPO shares will be floated to general public after bonus share is issued. After the issuance of Further Public Offering, the paid up capital of the insurance company will reach to Rs 2.47 arba. In total Life Insurance sector has earned Rs 24.83 arba as net insurance premium. Nepal Life Insurance has earned Rs 8.09 arba as insurance premium occupying 33% of the total insurance premium in the life insurance sector. NLIC earned net profit of Rs 23.80 crore in the third quarter of the fiscal year 2072/73.