NB Insurance proposes 100% Right Share; Paid up to reach Rs 48.98 crore

NB Insurance Company Limited (NBIL) has decided to issue 1:1 (100%) right share to its shareholders. As per the notice published in NEPSE, the BOD meeting of the insurance company held today (Kartik 26, 2073) has proposed to issue 100% right share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Insurance Board and its upcoming Annual General Meeting (AGM) which is going to be held on Mangsir 17. Earlier, NB Insurance had issued 80% right share to its shareholders. NB Insurance had earned net profit of Rs 4.36 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 24.49 crore. After issuance of 100% right share its paid capital will rise to Rs 48.98 crore.