Last day! Everest Insurance closing 300% right shares issue; eligible investors can apply till today

Last day!...

Everest Insurance Company Limited (EIC) will be closing the issue of 82,19,475 units right shares (1:3) ratio to its existing shareholders from today (Ashad 16, 2076). This right issue was open since Jestha 14 and eligible investors can apply till banking hour today.

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.