NB Insurance resumes trading on Nepse from today; 80% right share in pipeline; trading starts at Rs 80

NB Insurance Company Limited (NBIL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Jestha 31, 2073) as per the letter from Insurance Board and the satisfactory DEMAT report from CDS and Clearing Limited (CDSC). The trading of the NBIL starts at Rs 80 on NEPSE from today. Recently, NB Insurance and CDSC had signed an agreement to dematerialize its shares. As, trading of shares can only take place in dematerialized form. NBIL 14^th, 15^th, 16^th & 17^th  AGM held on Poush 30, 2072 had approved 10:8 (80%) right share issue to its shareholders. The insurance company is proposing 80% rights issue of 1,200,000 numbers of equity shares at the face value NPR 100/-each to be issued to the existing shareholders at par.The process to issue right share  is on review in SEBON. NBIL had earned a net profit of Rs. 2.20 crore in the third quarter of the current fiscal year. The paid up capital of the insurance company stands at 24.49 crore. After the issuance of 80 percent right share, the paid up capital will stand at Rs 44.08 crore.