Everest Insurance issuing 300% right shares from Jestha 14; investors holdings shares till Baisakh 8 are eligible to apply

Everest In...

Everest Insurance Company Limited (EIC) will be issuing 82,19,475 units right shares (1:3) ratio to its existing shareholders from Jestha 14, 2076. The last day for this right issue is on Asad 16, 2076.

The book closure date for right share purpose was on Baisakh 9, 2076. Investors holding shares of the company till Baisakh 8 are eligible for right shares.

The insurance company is  issuing right shares in the ratio of 1:3 or 300% at par value. The company will be issuing 82,19,475 units as right shares to raise a capital worth Rs 82.19 crore.

Siddhartha Capital Limited has been appointed as the issue manager.

The company had recently issued 105% right shares, which has been listed in NEPSE. The existing paid up capital of EIC is Rs 27.39 crore. Then, after the adjustment of 300% right shares proposed now the capital will reach Rs 1.09 arba.

The last trading price of EIC is Rs 435 traded on May 9.

Also read;

Everest Insurance Company issues right shares twice in one fiscal year; what does the rule say?

Everest Insurance hits circuit break for 4 consecutive days after book closure for 300% right; Returns of EIC holder as high as 45%

Everest Insurance 32% rise in net profit for Q3 of FY 2075/76; Net worth stands at Rs 230.77 with PE ratio of 65.01 times