Nepal Insurance Company Limited announced Book Closure Date for 40% Rights

Nepal Insurance Company Limited (NICL) has announced the cutoff date for its 40% rights issue on 30th Jestha, 2082. Therefore, shareholders who held their shares prior to Jestha 29 are qualified for the rights issuance.

The company will offer 40% rights shares valued at Rs. 65.76 Crores through the issuance of 6,576,937.76 (1: 0.40) units of rights shares to its current shareholders. The present paid-up capital stands at Rs. 1.89 Arba. Following the incorporation of the proposed rights shares, specifically 6,576,937.76 units, the company’s paid-up capital will rise to Rs. 2.30 Arba.

NIMB Ace Capital Limited has been designated as the issue manager.

At the time of writing, NICL’s share price settled at Rs. 764.07.