27% Right Shares of Sun Nepal Life Insurance Company Approved By SEBON

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Sun Nepal Life Insurance Company Limited (SNLI).

The company will be issuing 27% right shares worth Rs. 1.06 Arba through the issue of 10,696,320 (1: 0.27) units of right shares to its existing shareholders.

The current paid-up capital of Rs. 3.96 Arba. After the adjustment of the proposed right share i.e. 10,696,320 units, the company's paid-up capital will increase to Rs. 5.03 Arba.

Nepal SBI Merchant Banking Limited is appointed as the issue manager.

As of writing, SNLI closed at Rs. 693.00.