Prabhu Insurance Convenes Its SGM on Ashad 28; M&A and Right Issue for Capital Increment

Prabhu Insurance Limited (PRIN) conveyed its SGM on Ashad 28, 2079. The meeting was held at the head office of the company located at Prabhu Complex, Tinkune.

The SGM has endorsed the board’s proposal to issue right shares in order to increase its paid-up capital if necessary. Additionally, the company also decided to identify and select suitable non-life insurance companies for merger/acquisition process in the upcoming days to increase the company's paid-up capital. The company has given full authority to the Board of Directors to appoint a recognized valuation officer to conduct a Due Diligence Audit and complete all the necessary procedures related to merger/acquisition.

The company aims to strengthen its capital in the future by providing quality services to the customers and maximizing returns to shareholder dignitaries.