NIC Asia Capital and Prabhu Insurance Finalize Agreement for Rights Share Issue

Tue, Jul 2, 2024 11:55 AM on Latest, Dividend, Bonus & Rights, Corporate,

Prabhu Insurance Limited has appointed NIC Asia Capital as the issue manager for its right shares issuance. PRIN plans to issue 83,50,135.44 shares valued at Rs.100 each, totaling Rs.83,50,13,544 in rights shares to meet Nepal Insurance Authority's capital requirements.

The agreement, finalized recently, includes the appointment of a sales manager crucial to the execution of this undertaking.

Prabhu Insurance Limited's Chief Executive Officer, Mr. Sanchit Bajracharya, signed the agreement on behalf of the insurance company.

Representing NIC Asia Capital Limited, Chief Executive Officer Mr. Ramendra Rayamajhi endorsed the agreement on behalf of the issue and sales management team.