Last day to grab shares of NLG Insurance and Prudential Insurance; Both companies issuing 60% right shares

Last day t...

NLG Insurance Company (NLG) will be issuing 60% right shares i.e 3,842,437.50 units at par to raise capital worth Rs.38.42 Crore. The book closure date for the issue has been declared on Magh 27, 2076. Therefore, shareholders maintained on Magh 26 i.e. today will be eligible to apply for the right shares.

Laxmi Capital Market has been appointed as the issue manager.

The company's paid-up capital as of 2075/76 end stood at Rs.64.04 Crore. Post adjustment of 10:6 rights issue, it will reach Rs.1.02 Arba meeting the capital mark.

Prudential Insurance Company (PICL) will be issuing 60% right shares to its shareholders. The company is issuing 3,849,120 units at par to raise a capital worth Rs.38.49 Crore.

NMB Capital Limited has been appointed as the issue manager.

The book closure for this right issuance is on Magh 27, 2076. Therefore shareholders maintained on Magh 26, 2076 i.e today will be eligible to apply for the right issue.

After the issuance of the proposed right shares on its existing paid-up capital of Rs.64.15 Crore, its paid-up value shall scale up to Rs.1.02 Arba thereby meeting the requirement set for the non-life insurance companies.