Neco Insurance to issue 50% (39.21 lakh units) right shares from Magh 26; Offer ends on Chaitra 1

Neco Insurance Company Limited (NIL) will be issuing 1:0.50 (50%) right share to its shareholders from Magh 26, 2074. As per notice published by the insurance company today, the rights issue will remain open for 35 days before closing on Chaitra 1, 2074. The book closure date for the rights issue has been set on Magh 9, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till today (Magh 8, 2074) are eligible to apply for the right shares. NIL will be issuing 39.21 lakh units right shares worth Rs 39.21 crore to its existing shareholders at a face value of Rs 100 per share. NMB Capital Limited has been assigned as the issue manager for right share issue. Interested applicants can collect application forms from NMB Capital Limited, Nagpokhari, Kathmandu and from designated branches of NMB Bank and Neco Insurance. Its paid up capital will reach to Rs 1.17 arba after 50% right share adjustment from existing Rs 78.41 crore. It had posted net profit of Rs 3.61 crore in the first quarter of the FY 2074/75. Announcement: