Neco Insurance Right shares issuance from today
Thu, Feb 26, 2015 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, February 26:
Neco Insurace Company Limited (NIL) is issuing right shares from 14th Falgun (today). Neco has offered right shares of face value Rs 100 at the ratio of 1:0.84 for its existing shareholders.
The company’s Annual General Meeting last year had endorsed the company's BoD's decision to issue 11,47,784 units of right shares worth Rs 11 crore to meet the company’s paid up capital requirement.
The right issue will last till Chaitra 18, 2071. Civil Capital Market Limited is the issue manager of this rights issue.
According to them the right shares is being given as per Rs 13.52 crore paid-up capital of the company, and the paid-up will rise to Rs 25 crore after adjusting right shares.
