United Insurance Company to issue 240% right shares from Bhadra 3; investors holding shares till Shrawan 13 are eligible

United Insurance Company (Nepal) Limited (UIC) will be selling 72,57,600 units right shares ratio to its existing shareholders from Bhadra 3, 2076. The last day for this right issue is on Ashoj 6, 2076.

The book closure date for right share purpose was on Shrawan 14, 2076. Investors holding shares of the company till Shrawan 13 will be eligible for right shares.

The insurance company is  issuing right shares in the ratio of 1:2.4 or 240% at par value. The company will be issuing 72,57,600 units as right shares to raise a capital worth Rs 72.57 crore.

NMB Capital Limited has been appointed as the issue manager for the right issue.

The existing paid up capital of company is Rs 30.24 crore and after the 240% right shares issue the paid up capital will rises to Rs 102.81 crore.

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). 

The last trading price of UIC is Rs 344 traded on August 1.