Last day to clinch 50% right shares of Neco Insurance & First Microfinance

Today is the last day to clinch 50% right shares of Neco Insurance Company Limited (NIL) and First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL). The insurance company has set the book closure date on Magh 9, 2074. Thus, only those shareholders holding their shares till today (Magh 8, 2074) i.e. one day ahead of the book closure date are eligible to apply for the right shares. Securities Board of Nepal (SEBON) had given final approval to issue 50% right shares of Neco Insurance Company Limited (NIL) on Poush 26, 2074. Now, NIL will be issuing 39.21 lakh units right shares worth Rs 39.21 crore to its existing shareholders at a face value of Rs 100 per share. NMB Capital Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 1.17 arba after 50% right share adjustment from existing Rs 78.41 crore. It had posted net profit of Rs 3.61 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 770 as of last trading day. Likewise, First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL)  has also set the book closure date on Magh 9, 2074. Thus, only those shareholders holding their shares till today (Magh 8, 2074) i.e. one day ahead of the book closure date are eligible to apply right shares. FMDBL will be issuing 22.81 lakh units right shares worth Rs 22.81 crore to its existing shareholders at a face value of Rs 100 per share. Global IME Capital Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 68.43 crore after 50% right share issue from existing Rs 45.62 crore. It had posted net profit of Rs 2.41 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 786as of last trading day.