Right Shares of Prabhu Insurance Company Added in SEBON Pipeline

The Securities Exchange Board of Nepal (SEBON) has added the right shares of Prabhu Insurance Company Limited (PRIN) to its pipeline under preliminary review. The application was submitted to the board on Ashadh 19, 2081.

The insurance company is looking to issue 50.15% right shares worth Rs. 85.50 Crores through the issue of 8,350,135.44 (1:0.5015) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 1.44 Arba. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 2.27 Arba.

NIC Asia Capital Limited is appointed as the issue manager.