Today marks the final trading day on NEPSE for shareholders to qualify for the rights shares of Nepal Insurance Company Limited (NICL).
The rights share distribution will occur at a ratio of 10:4, amounting to 65,76,967.76 shares priced at Rs. 100 each, culminating in a total of NPR 65,76,96,776. Following the acceptance by the Securities Board of Nepal on Jestha 23, 2082, the company is obligated to modify the rights share distribution ratio in accordance with the increased paid-up capital after issuing 24,66,362.91 bonus shares at a 15% rate, which was sanctioned during the 76th Annual General Meeting on Chaitra 19, 2081.
With the bonus shares factored in, the new paid-up capital will be Rs. 1,64,42,41,940, and the adjusted rights share issuance ratio is now 34.78%. The company has disseminated this updated notification along with a sample publication for record-keeping and shareholder awareness.
NIMB Ace Capital Limited has been designated as the issue manager.
The book closure date is set for 30th Jestha, 2082. Consequently, investors who owned shares prior to that date are eligible to apply for them.
