Premier Insurance issuing 6,95,565 units FPO shares at Rs 1,004 per unit

Premier Insurance Co. Ltd. (PIC) has set per unit value of upcoming FPO shares at Rs 1,004 per unit. PIC will be floating further issue of 6,95,565 unit shares at Rs 904 premium added to the par value of Rs 100. As per the notice published in NEPSE today, the insurance company has also committed to fully disclose the reason if its forecasted financial statements shows a difference of more than 20%. PIC's 23rd AGM held on December 29, 2016 had given the go-ahead to float FPO shares after the capitalization of 20% bonus. PIC has a paid up capital of Rs 44.85 after 20% bonus share. Its promoter-public shareholding ratio stands at 60:40. After the FPO, the promoter-public shareholding structure will be 51.94:48.06. Its paid up will reach Rs 51.8 crore and reserve will grow by Rs 62.87 crore.