NEPSE Resumes Share Trading of Reliance Life Insurance (RLI)

Nepal Stock Exchange (NEPSE) has issued a circular stating that the trading of securities for Reliance Life Insurance (RLI) has opened to the general public, except for Basic shareholders of both companies.

A preliminary agreement was reached between Reliance Life Insurance (RLI) and Sanima Life Insurance Company Limited (SLI) companies to merge in a ratio of 1:1. After the merger agreement was reached, Nepse suspended its share trading from Ashad 29 and the last transaction price of RLI was Rs. 335.

Sanima Life has a paid-up capital of Rs 2.08 Arba, and Reliance Life has a paid-up capital of Rs 2.10 Arba. Accordingly, the paid-up capital of the two companies will reach Rs 4.18 Arba after the merger, which is still not enough to meet the Insurance Committee requirement i.e. Rs 5 Arba by the end of Chaitra month of current year.