Nepal Life Insurance to convert 10% promoter shares into ordinary shares; Promoter shareholding to be decreased to 60% from 70%

Nepal Life Insurance Company Limited (NLIC) will be converting its promoter shares into ordinary shares.

As per the notice published in NEPSE, the company has decided to convert its 70% promoter shareholding into 60%. After the conversion, the ordinary shares will be 40% of the company’s total capital structure.

The current paid-up capital of the company is Rs 4.39 arba. So, Rs 43.96 crore worth of promoter shares will be converted into ordinary shares. After the conversion, promoters will hold Rs 2.63 arba worth of shares while the ordinary shareholders will hold Rs 1.75 arba worth of shares in the life insurance company.