88.45% Right Shares of Life Insurance Corporation Nepal Limited And 62.56% Right Shares of NLG Insurance Company Approved By SEBON

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Life Insurance Corporation Nepal Limited (LICN) on Ashwin 14, 2081.

The company will be issuing 88.45168% right shares worth Rs. 99 crore through the issue of 2,34,68,000 (1: 0.8845168) units of right shares to its existing shareholders.

The current paid-up capital of Rs. 2.65 Arba. After the adjustment of the proposed right share i.e. 2,34,68,000, the paid-up capital of the company will increase to Rs. 5 Arba.

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

As of writing, LICN closed at Rs. 2,100.00.

Similarly, The Securities Board of Nepal (SEBON) approved the rights offering proposal of NLG Insurance Company Limited (NLG) on Ashwin 14, 2081.

The company will be issuing 62.56% right shares worth Rs. 96.31 crore through the issue of 9,631,220.22 (1: 0.6256) units of right shares to its existing shareholders.

The current paid-up capital of Rs. 1.53 Arba. After the adjustment of the proposed right share i.e. 9,631,220.22 units, the paid-up capital of the company will increase to Rs. 2.50 Arba.

Laxmi Sunrise Capital Limited is appointed as the issue manager.

As of writing, NLG closed at Rs. 1,311.00.