Lumbini General Insurance to issue 39 lakh units (100%) right shares from Asadh 30; offer ends on Bhadra 1

Lumbini General Insurance Limited (LGIL) will be issuing 1:1 (100%) right shares to its existing shareholders from Asadh 30, 2074. The right issue will remain open for 35 days before closing on Bhadra 1, 2074. The bank will be issuing a total of 39,00,000 unit right shares worth Rs 39 crore at the face value of Rs 100. The book closure date for 100% right issue was set for today (Asadh 13, 2074). Only the shares registered one trading day ahead of the book closure date i.e. Asadh 11, 2074 are eligible for applying for the right shares. CBIL Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from CBIL Capital, Dillibazar, Kathmandu, Ace Capital Markets Limited, Laldurbar, Kathmandu as well as from designated branch offices of Citizens Bank Limited. After the adjustment of the rights shares, LGIL’s total paid-up capital will reach to Rs 78 crore from current Rs 39 crore. It's authorized capital stand at Rs 1 arba. Lumbini General Insurance has earned net profit of Rs 11.61 crore in the third quarter of the FY 2073/74.