Neco Insurance Limited (NIL) is commencing the issuance of a 1:0.25 ratio of entitlement shares to its stakeholders at a nominal value of Rs. 100 starting today, i.e., on 8th Falgun, 2081, until 28th Falgun, 2081.
The organization will be distributing 25% entitlement shares with a total worth of Rs. 50.30 crore, by issuing 50,30,901.55 (1: 0.25) units of entitlement shares to its current shareholders. The existing paid-up capital stands at Rs. 2.01 Arba. Following the integration of the new entitlement shares, i.e., 50,30,901.55 units, the company’s paid-up capital will rise to Rs. 2.51 Arba.
Sanima Capital Limited has been designated as the issue manager for this entitlement issue.
The book closure date was set on 17th Magh. Therefore, shareholders who were recorded before that date are qualified for the rights offering.
