Nepal Insurance Company announces book closure for 65% right; Shareholders holding shares till Magh 27 eligible to apply

Nepal Insurance Company Limited (NICL) will be closing its shareholders' register book on Magh 27, 2075 for the issuance of its 65% right shares.

Since the 27th is Sunday, the last trading day will be Magh 24th, Thursday. Thus, as per the notice published in NEPSE, the shareholders holding the shares of the insurance company till Magh 25, 2075 will be able to apply for the right shares.

The insurance company will be issuing 40,14,651.58 units as its right shares.

Global IME Capital has been appointed as the issue manager for the right issuance.

ICRA Nepal has assigned Grade 4 plus rating to the right issuance of Nepal Insurance Company Limited indicating below average fundamentals.

After the adjustment of the right shares, the paid-up capital of the insurance company will reach Rs.1.01 arba.