Nepal Insurance issuing 65% right shares from Falgun 21; Shareholders holding shares till Magh 24 eligible to apply

Nepal Insurance Company Limited (NICL) is issuing 1:0.65 i.e. 40,14,651.58 units right share to its shareholders from Falgun 21, 2075. The last date for right shares issue is on Chaitra 25, 2075.

The company has already closed its shareholders' register book on Magh 27, 2075 for the issuance of its 65% right shares.

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