60% right issue of NLG insurance in SEBON pipeline; Right issue final brick to meet the capital mark

Securities Board of Nepal (SEBON) has added 60% right issue of NLG Insurance Company (NLG) to its pipeline for review. NLG is issuing 38,42,437.50 unit right shares worth Rs 38.42 crore.

Laxmi Capital is the issue manager.

ICRA Nepal has assigned [ICRANP] IPO Grade 3, indicating average fundamentals to the proposed rights issue.

The company's paid-up capital as of 2075/76 end stood at Rs 64.04 arba. Post adjustment of 10:6 rights issue, it will reach Rs 1.02 arba meeting the capital mark.