SEBON adds 60% and 100% rights issue of Prudential Insurance and Gurans Life Insurance in its pipeline; Both companies issuing to meet the minimum capital mark

Tue, Sep 10, 2019 12:01 PM on Dividend, Bonus & Rights, Latest, Stock Market,
SEBON adds...

Securities Board of Nepal (SEBON) has added the right issues of Prudential Insurance Company (PICL) and Gurans Life Insurance Company (GLICL) in its pipeline for preliminary review.

PICL is issuing right shares at the ratio of 10:6. A total of 38 lakh 49 thousand 120 unit shares are being issued at Rs 100 per unit.

NMB Capital has been appointed as the issue manager.

After the issuance of the proposed right shares on its existing paid up capital of Rs 64.15 crore, its paid-up value shall scale up to Rs 1.02 arba thereby meeting the requirement set for the non-life insurance companies.

GLICL is issuing right shares at the ratio of 1:1. A total of 93 lakh 85 thousand 200 units are being issued at a par of Rs 100.

NMB Capital has been appointed as the issue manager.

It's paid-up capital as of Q4 of FY 2075/76 stood at Rs. 92.94 crores. It recently had also issued 50% right which has been listed in NEPSE.

After the issuance of the proposed right shares on its existing paid-up capital of Rs 93.85 crore, its paid-up value shall scale up to Rs 1.87 arba thereby meeting the requirement set for the life insurance companies of Rs 2 arba soon.