NEPSE Resumes Share Trading of Prabhu Life Insurance (PLI) and Central Finance Limited (CFCL)

Nepal Stock Exchange (NEPSE) has issued a circular stating that the trading of securities for the Prabhu Life Insurance Limited (PLI) has opened to the general public, except for Basic shareholders of the company. The trading of PLI is halted in NEPSE since 14th July, 2022. Its last trading price stood Rs 357 in NEPSE. 

A few months back, Mahalaxmi Life Insurance Limited (MLICL) and Prabhu Life Insurance (PLI) signed  a merger agreement at a swap ratio of 1:1. After the merger, it has been agreed to conduct business under the name of 'Prabhu Mahalaxmi Life Insurance Limited.  

Most of the insurance companies are under pressure to increase their capital as the Insurance Committee (Beema Samiti) has directed the life insurance companies to increase the minimum paid-up capital to Rs 5 Arba and non-life insurance companies to Rs 2.5 Arba within Chaitra end 2079.

On the other hand, the trading of Central Finance Limited (CFCL) has also opened to the shareholders. Earlier the trading of the company has been stopped because it published a notice stating that 5 percent of cash dividend would be issued to the shareholders while the shares were being traded.

The letter regarding dividend declaration of Fiscal year 2078/79 by Central Finance was received by Nepal Stock Exchange at 12:39 PM during business hours on the same day.