Life Insurance Corporation Nepal Closing Issue of 1:0.8845 Right Shares from Today
Wed, Jan 1, 2025 10:10 AM on Latest, Dividend, Bonus & Rights,
Life Insurance Corporation Nepal Limited (LICN) is concluding the issuance of right shares in a 1:0.8845168 ratio to its shareholders at a par value of Rs. 100 today, 17th Poush, 2081. Initially scheduled to close on the 2nd Poush, the rights offering was extended as per the company's notice and will now conclude on the 17th Poush, 2081. The issue was originally opened on 12th Mangsir, 2081.
The company will be issuing 88.45168% right shares worth Rs. 99 crores 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 adjusting the proposed right share i.e. 2,34,68,000, the company's paid-up capital will increase to Rs. 5 Arba.
According to the CDSC, a total of 10,524 applicants applied for 36,25,351 units of right shares, equivalent to Rs. 36.25 crore. Despite this substantial interest from the applicants, the issue was only subscribed to 15.44% of its total offering as of today.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager for this right issue.
The book closure date was scheduled on 9th Kartik, 2081. Thus, the shareholders maintained until the same are deemed eligible for the rights offering.
