NB Insurance auctioning 28,580 units unclaimed ordinary right shares from today; LTP at Rs 1,275

NB Insurance Company Limited (NBIL) is ­auctioning its unclaimed 28,580 units right shares from today (Bhadra 14, 2074). The insurance company is auctioning 28,580 units ordinary shares after the right shares issued from to Ashad 5, 2074 till Shrawan 9, 2074were not fully subscribed by its shareholders. The company had floated a total of 27,00,000 units right shares in the ratio 1:1 and around 1.05% right shares were left unclaimed.. The auction will last till Bhadra 22, 2074 and the bids will be opened to conclude the auction on Bhadra 23, 2074 at 3:30 PM. Global IME Capital Limited is the issue manager for this auction. Interested investors can collect bid forms from Global IME Capital Limited, Jamal, Kathmandu and submit their bids by 3:00 PM on Bhadra 22, 2074. The insurance company has urged all bidders to deposit the bid amount in account number 0124524615847019 maintained in the name of Global IME Capital Limited at Kumari Bank Limited. After the adjustment of the rights shares, the non-life insurance company’s total paid-up capital reached Rs 54 crore from existing Rs 27 crore. As per Insurance Board’s recent directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, NBIL will need to issue a further capital hike of Rs 46 crore (around 86%). Its last traded price (LTP) stood at Rs 1275 as on August 28, 2017.