NLG Insurance Company to extend right issue till Chaitra 27, 2076; 3.84 Million units being issued at par

Mon, Mar 23, 2020 1:31 PM on Dividend, Bonus & Rights, Latest,

NLG Insurance Company (NLG) is issuing 60% right shares i.e. 3,842,437.50 units at par of Rs 100 to raise capital worth Rs.38.42 Crore. The issue was open from today i.e. Falgun 22, 2076 to Chaitra 12, 2076. However, looking at the current situation of the market, the company has been allowed to extend the right issue till Chaitra 27, 2076.

Laxmi Capital Market Limited has been appointed as the issue manager.

The book closure date for the issue was on Magh 27, 2076. Therefore, shareholders maintained on Magh 26 will be eligible to apply for the right shares.

The company's paid-up capital as of 2075/76 end stood at Rs.64.04 Crore. Post adjustment of 10:6 rights issue, it will reach Rs.1.02 Arba meeting the capital mark.