Hurry Up! Final Day to apply for the 65% right shares of Nepal Insurance; eligible can apply till banking hour today
Mon, Apr 8, 2019 6:35 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Nepal Insurance Company Limited (NICL) is closing the issue of 1:0.65 i.e. 40,14,651.58 units right share to its shareholders from today (Chaitra 25, 2075). The eligible shareholders can apply till the banking hour today.
The company has already closed its shareholders' register book on Magh 27, 2075 for the issuance of its 65% right shares.
Since 27th Magh was Sunday, the last trading day to claim the right share was Magh 24th, Thursday. Thus, as per the notice published, the shareholders holding the shares of the insurance company till Magh 25, 2075 are able to apply for the right shares.
Global IME Capital has been appointed as the issue manager for the right issuance.
ICRA Nepal has assigned Grade 4 plus rating to the right issuance of Nepal Insurance Company Limited indicating below average fundamentals.
After the adjustment of the right shares, the paid-up capital of the insurance company will reach Rs.1.01 arba.
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