Issue of 88.45% Right Shares of Life Insurance Corporation Nepal (LICN) Approved by Insurance Authority

Nepal Stock Exchange (NEPSE) has published a notice regarding the approval to issue rights shares by Life Insurance Corporation Nepal Limited (LICN). The company has proposed to issue 1: 0.8845168 rights shares to its shareholders.

On the 119th meeting of the board of directors of Life Insurance Corporation Nepal Limited held on Bhadra 13, 2079, the company had decided to issue the 88.45168% right shares worth Rs. 2,34,68,00,000 from its existing paid-up capital of Rs. 2.65 Arba, to increase its paid-up capital to minimum Rs 5 Arba as mandated by the regulator body.

Thus, 2,34,68,000 unit shares will be issued at a par value of Rs. 100 per share. This decision had been endorsed by the company's Special General Meeting (SGM) on Magh 03, 2079, and also approved by Insurance Authority (Beema Samiti).

As of writing, LICN's LTP stands at Rs. 1,576.