SEBON approves right share issuance of two companies; Siddhartha Insurance to issue 35% right shares and Womi Microfinance to issue 30% right shares

Securities Board of Nepal (SEBON) has provided final approval to the right shares of Siddharth Insurance Limited and Womi Microfinance Bittiya Sanstha have been approved by the board.

The 35% right shares of Siddhartha Insurance Limited (SIL) was in the Right share pipeline. The insurance company will be issuing 22,44,973.50 unit right shares for its shareholders. The paid-up capital of the company will reach Rs 86.59 crore after the adjustment of right shares. NMB Capital Limited has been appointed as the issue manager for the right share issuance.

Likewise, SEBON has also provided approval to 30% right shares of Womi Microfinance Bittiya Sanstha Limited (WOMI). The microfinance company will be issuing 2,33,280 unit right shares for its shareholders. The paid up capital of the company stands at Rs 7.77 crore which after the adjustment of 10:3 right shares will reach Rs 10.10 crore. Siddhartha Capital Limited has been appointed as the issue manager for the right share issuance.