Last trading day to grab 300% right shares of Everest Insurance; book closure on Baisakh 9

Today is the last day to grab 300% right shares of Everest Insurance Limited.

Everest Insurance Company Limited (EIC) has announced book closure for issuance of 1:3 ratio (300%) right shares for its shareholders on Baisakh 9, 2076. i.e. the investors holding the shares till Baisakh 8 will be eligible to apply for the 300% right shares.

The insurance company will be issuing 82,19,475 unit right shares worth Rs 82.19 crore as per the decision made by its 23rd AGM.

Siddhartha Capital Limited has been appointed as the issue manager for the right issuance.

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.

Everest Insurance Company issues right shares twice in one fiscal year; what does the rule say?