Last day of apply for 100% (30.19 lakh units) right shares of Nepal Insurance; offer ends today
Tue, May 22, 2018 12:15 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Nepal Insurance Company Limited (NICL) has been issuing 1:1 (100%) right share to its shareholders from Baishakh 5, 2075 and the issue is closing today i.e. Jestha 8, 2075.
The company had set the book closure date on Chaitra 23, 2074. Thus, only those shareholders owning shares till Chaitra 22, 2074 are eligible to apply for the right shares.
NIBL Ace Capital is the issue manager for the right share. Interested applicants can apply from NIBL Ace Capital Limited and designated branches of Nepal Insurance Company Limited.
SEBON had given approval for the issuance of right shares on Falgun 29, 2074.
ICRA Nepal has assigned (ICRANP) IPO Grade4+ to the Rs 30.19 crore Rights issue of Nepal Insurance Company Limited (NICL). Instruments with this grading are considered to have below average fundamentals.
The insurance company’s current capital stands at Rs 30.19 crore and after the issuance of rights share in the ratio of 1:1, its paid up capital will reach Rs 60.39 crore. The company has also recently proposed 4.52384% bonus shares for its shareholders. The total capital of the company after the issuance of bonus share would be Rs 61.76 crore. It has further proposed 65% right shares.
It had posted net profit of Rs 6.82 crore in the third quarter of the FY 2074/75.
Its LTP stood at Rs 706 as of last trading day (i.e Jestha 7, 2075).
