SEBON gives final approval to proposed 240% right issue of United Insurance; total of 7.25 million units to be issued soon

SEBON give...

Securities Exchange Board of Nepal (SEBON) has given final approval to proposed right issue of United Insurance Company (Nepal) Limited (UIC).

UIC has proposed right issue of 240% (1:2.4) worth Rs 72.57 crore through issue of 72,57,600 units of shares at par value. NMB Capital Limited has been appointed as the issue manager for this purpose.

After the adjustment of 240% right shares, the paid up capital of the company will reach Rs 1.02 arba.

Care Nepal has assigned grading of ‘CARE-NP IPO Grade 4 [IPO Grade Four]’ to the proposed Rights Share Issue of United Insurance Company (Nepal) Limited (UIC).