Everest Insurance to close its book for 300% right shares; investors holding EIC shares till Baisakh 8 are eligible to apply

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Mon, Apr 15, 2019 6:50 AM on Book Closure, Dividend, Bonus & Rights, Latest,
Everest In...

Everest Insurance Company Limited (EIC) has announced book closure for issuance of 1:3 ratio (300%) right shares for its shareholders.

As per the notice published today, the insurance company will be closing its shareholders register book on Baisakh 9, 2076 i.e. the investors holding the shares till Baisakh 8 will be eligible to apply for the 300% right shares.

The insurance company will be issuing 82,19,475 unit right shares worth Rs 82.19 crore as per the decision made by its 23rd AGM.

Siddhartha Capital Limited has been appointed as the issue manager for the right issuance.

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.