Nepal Insurance Company Limited (NICL) has announced a letter of offer for the release of its 34.783% rights shares.
Per the offer letter released by the firm, it will commence the application process for its rights shares at a ratio of 10:3.4783 or 34.783% from 6th Shrawan to 26th Shrawan, 2082.
The company will be distributing 34.783% rights shares valued at Rs. 65.76 Crores through the issuance of 65,76,967.76 (10:3.4783) units of rights shares to its current shareholders. The existing paid-up capital stands at Rs. 1.64 Arba. Following the adjustment of the proposed rights shares, i.e., 65,76,967.76 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.
The book closure date is 30th Jestha, 2082. Therefore, investors who held shares before that date can proceed to apply for the shares.
