Nepal Life Insurance announces 26.31% bonus share; FPO allottees also eligible for bonus

Nepal Life Insurance Company Limited (NLIC) has proposed 26.31% bonus shares to its shareholders for the FY 2072/73. As per the notice published in NEPSE today, the life insurance company has set aside Rs 61.92 crore stock dividend and Rs 3.25 crore cash dividend (including for tax purpose). This amounts to 30.08% of the paid up capital at the end of FY 2072/73, and 26.31% of the capital after its recently concluded FPO. The life insurance company has also said that the allottees of the FPO are also eligible for the 26.31% bonus shares. The bonus shares will be distributed after being approved by Beema Samiti and its upcoming AGM. Nepal Life Insurance Co. Ltd. had issued 30,96,429 units further public issue at Rs 1,425 per unit from Poush 27 to Magh 2, 2073. The FPO was oversubscribed by 11.8 times after collecting Rs 52 arba. After the capitalization of FPO shares, its paid up capital will reach to Rs 2.47 arba. Reserve will grow by Rs. 4.1 arba.