Nepal Insurance Company proposes 5% bonus share; paid up capital to reach Rs 30.15 crore

Nepal Insurance Company Limited (NICL) has decided to issue 5% bonus share to its shareholders. As per the notice published in NEPSE, the BOD meeting of the company held on Asadh 5, 2074 has proposed 5% bonus share to its shareholders from the profits it earned in FY 2072/73. After the issuance of this bonus share, its paid up capital will reach Rs 30.15 crore from existing Rs 28.72 crore. As per Insurance Board’s directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, NICL should further increase its capital by around Rs 69.85 crore (around 232%). NICL has not proposed any dividend for the FY 2071/72 and is yet to convene its AGM for the fiscal years 2071/72 and 2072/73.