40% Right Shares of Nepal Insurance Company Limited Approved By SEBON

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Nepal Insurance Company Limited (NICL).

The company will be issuing 40% right shares worth Rs. 65.76 Crores through the issue of 6,576,937.76 (1: 0.40) units of right shares to its existing shareholders.

The current paid-up capital is Rs. 1.89 Arba. After the adjustment of the proposed right share, i.e., 6,576,937.76 units, the company's paid-up capital will increase to Rs. 2.30 Arba.

NIMB Ace Capital Limited is appointed as the issue manager.

As of writing, NICL closed at Rs. 790.83.