Promoter Shares of Prudential Insurance (PICL) Converted; What's the New Shareholding Ratio?

Prudential Insurance Company Limited (PICL) has converted a portion of its promoter shares.

The letter of the Beema Samiti dated 2077/07/26 approved the share conversion of the company to 51: 49 from the existing 60: 40. The 19th AGM of the insurance company had endorsed a special agenda to convert the shareholding ratio to 51: 49 from the pre-existing 60: 40. Pertaining to the decision, 9,97,691.9 promoter shares are now converted to ordinary shares.

Promoters who are not willing to convert the shares were allowed to submit a self-declaration letter within 7 days to defy the decision. As of writing, the ordinary shares of the company have an LTP of Rs. 862.