Last day to bid for 28,580 units auctioned  shares of NB Insurance; LTP at Rs 1274

NB Insurance Company Limited (NBIL) is closing its auction for unclaimed 28,580 units ordinary right shares today (Bhadra 23, 2074). The insurance company is auctioning 28,580 units ordinary shares after the right shares issued from to Ashad 5, 2074 till Shrawan 9, 2074 were not fully subscribed by its shareholders. The company had floated a total of 27,00,000 units right shares in the ratio 1:1 and around 1.05% right shares were left unclaimed. The auction was open from Bhadra 14, 2074 and the bids will be opened to conclude the auction on Bhadra 25, 2074 at 3:30 PM. Global IME Capital Limited is the issue manager for this auction. Interested investors can collect bid forms from Global IME Capital Limited, Jamal, Kathmandu and submit their bids within office hours on Bhadra 23, 2074. The insurance company has urged all bidders to deposit the bid amount in account number 0124524615847019 maintained in the name of Global IME Capital Limited at Kumari Bank Limited. After the adjustment of the rights shares, the non-life insurance company’s total paid-up capital reached Rs 54 crore from existing Rs 27 crore. As per Insurance Board’s recent directive for all non-life insurance companies to increase the paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, NBIL will need to issue a further capital hike of Rs 46 crore (around 86%). Its last traded price (LTP) stood at Rs 1274 as on September 7, 2017.