Life Insurance Corporation decreases its proposed 36% bonus shares; Shareholders to receive 12% bonus shares after approval from Insurance Board and AGM

Life Insur...

Life Insurance Corporation (Nepal) (LICN) has proposed 12% bonus shares for the FY 2073/74.

As per the notice published in NEPSE, the life insurance has amended its previous decision of distributing 36% bonus shares following various technical reasons.

The decision is subject to approval from the Insurance Board and upcoming AGM of the life inusurance company.

After the adjustment of 12% bonus shares, the paid-up capital will reach Rs 1.48 arba. Previously it was set to reach Rs 1.81 arba after distribution of 36% bonus shares. To meet the minimum capital requirement of Rs 2 arba, the company will need to hike its capital by Rs 52 crore.