Due To Merger Process, Share Trading of 'IME General & Prudential Insurance' To Be Halted From Baishakh 27

The final procedure for a merger between IME General Insurance Limited (IGI) and Prudential Insurance Company Limited (PICL) has been completed. The company had signed a merger deal at a swap ratio of 1:1.

Hence, as per Section 9 (2) of the Merger and Acquisition Directive 2079, Act, the Nepal Stock Exchange (NEPSE) has issued a circular regarding the suspension of share transaction of IGI and PICL from 27 Baishakh, 2080 in accordance with Section 9 (3) of the Directory 2079.

"IGI Prudential Insurance Limited" has been agreed upon as the name of the new company that will be formed as a result of the merger. The joint transaction of the company will start from Baisakh 27 i.e. May 10, 2023. The companies signed the Memorandum of Understanding (MoU) on Magh 27, 2079.