Surya Life Insurance issuing 70% right shares from Bhadra 8, 2076; Company to float a massive volume of 88 lakh unit shares

Surya Life...

Surya Life Insurance Company Limited (SLICL) is issuing it's 10:7 ratio 88,74,096 units right share to its shareholders from 8th Bhadra to 12th Ashwin, 2076.

NIC Asia Capital Limited has been appointed as the issue manager for the issue.

CRNL has assigned grading of ‘CARE-NP IPO Grade 4’ to the proposed Rights Share Issue of Surya Life Insurance Company Limited (SLICL). SLICL proposes 70% rights share issue of 8.8741 Million equity shares of face value of Rs.100 each at par aggregating Rs.887.41 Million.

As per the notice published by NEPSE, the book closure date for this purpose is on 29th Shrawan, 2076. Investors holding shares of the company till 28th Shrawan, 2076 will be eligible to apply for the right shares of the company.

After the issuance of the right share, the paid up capital of the company will reach to Rs 2.151 billion.