Life Insurance Corporation Nepal Proposes 88.45% Right Shares to Increase Paid Up Capital to Rs 5 Billion

Tue, Aug 30, 2022 11:13 AM on Dividend, Bonus & Rights, Latest,

Life Insurance Corporation Nepal Limited (LICN) has proposed to issue 1: 0.8845168 rights shares to its shareholders.

The 119th meeting of the board of directors held on Bhadra 13, 2079 has decided to issue the 88.45168% right shares worth Rs. 2,34,68,00,000 from its existing paid-up capital of Rs. 2.65 Arba, to increase its paid up capital to minimum Rs 5 Arba as mandated by the regulator body.

Thus, 2,34,68,000 unit shares will be issued at a par value of Rs. 100 per share. This decision is yet to be endorsed by the company's upcoming AGM and approved by Beema Samiti.

As of writing, LICN's LTP stands at Rs. 1,433.9.