27,79,615.58 Promoter Shares of Prime Life Insurance (PLIC) Converted to Ordinary Shares

27,79,615.58 units promoter shares of Prime Life Insurance Company Limited (PLIC) have now been converted into ordinary public shares.

The company had convened its 14th AGM on Mangsir 22, 2078 and endorsed the decision to convert of 10% promoter shares which equates to 27,79,615.58 units to ordinary shares to make promoter : public ratio from earlier 70 : 30 ratio to present 60 : 40 now.

With this conversion, the promoter to public shareholding ratio of the company is now 60 : 40. As of writing, the LTP of PLIC is Rs. 569.