2 days left for the closing of ongoing 60% right issue of Prudential Insurance; eligible investors are requested to apply within stipulated time

Prudential Insurance Company Limited (PICL) is closing the issue of its ongoing 60% right shares from Ashad 19, 2077. This issue was open from Falgun 18, 2076 and later extended due to ongoing COVID-19 outbreak. Therefore all the eligible investors are requested to apply right within the stipulated time.

The non-life insurance company had proposed an issue of 3,849,120 units of shares as 60% right shares worth Rs.38.49 Crore at par value of Rs.100 per share for the existing shareholders of the company. For this purpose, the books closure date was on Magh 27, 2076.

NMB Capital has been appointed as the issue manager for the issue.

ICRA Nepal has assigned [ICRANP] IPO Grade 4+, indicating below-average fundamentals to the proposed rights issue amounting to ~NPR 385 million of Prudential Insurance Company Limited (PICL).

The current paid up capital of the company stands at Rs.64.15 Crore. After the adjustment of 60% right share, the paid up capital will increase to Rs.1.02 Arba.