SEBON approves 30% right issue of Shikhar Insurance; Company issuing 31.71 lakh units

The Securities Board of Nepal (SEBON) has approved the right issue of Shikhar Insurance Company (SICL).

The company is issuing 30% (1:0.3) right shares for its existing shareholders. A total of 31.71 lakh units will be issued.

NIBL Ace Capital is appointed as the issue manager of the right issuance.

The paid-up capital of SICL as of Q4 2075/76 stands at Rs 1.05 arba. After the issuance of 30% right shares, it will reach Rs 1.36 arba.

ICRA Nepal has assigned [ICRANP] IPO Grade 3+, indicating average fundamentals to the proposed rights issue amounting to ~NPR 317 million of Shikhar Insurance Company Limited (SICL).