National Life Insurance to issue 60% right shares; Book closure on Ashadh 22 for the right share issuance

National Life Insurance Company Limited will be issuing 60% right shares for its shareholders at par value of Rs 100.

As per the notice published in NEPSE, the life insurance company will be closing its shareholders register book on Ashadh 22, 2075 i.e. the shareholders holding shares of the insurance company till Ashadh 21 will be eligible to apply for the right shares.

NIBL Ace Capital has been appointed as the issue manager for the right share issue.

After the adjustment of 60% right shares, the paid up capital of NLICL will stand at Rs 2.64 arba meeting the minimum capital requirement of Rs 2 arba.

NLICL has reported net profit of Rs 22.20 crore in the third quarter of the current fiscal year. Its LTP stands at Rs 1,170 as on Ashadh 13, 2075.