Nepal Insurance appoints NIBL Capital as issue manager for 100% right shares

Nepal Insurance Company Limited (NICL) has appointed NIBL Capital Markets Limited as issue manager for its upcoming 100% right share. Both the company signed on the agreement yesterday (Kartik 8, 2074). NICL 67^th & 68^th AGM held on Bhadra 30. 2074 had approved to issue 5% bonus and 100% right share to its shareholders. After 5% bonus shares, its paid up capital reached Rs 30.19 crore from existing Rs 28.76 crore. And after issuance of 100% right shares, it will reach to Rs 60.40 crore. As per the capital plan submitted by NICL, it may also go into merger with other insurance company to meet the capital requirement of Rs 1 arba as per Insurance Board. NICL has earned Rs 11.20 crore in the fourth quarter of the FY 2073/74. Its LTP stood at Rs 1515 as of October 25, 2017.