Right Shares of Neco Insurance Limited And Terhathum Power Company Added in SEBON Pipeline

The Securities Exchange Board of Nepal (SEBON) has added the right shares of Neco Insurance Limited (NIL) to its pipeline under preliminary review. The application was submitted to the board on Chaitra 6, 2080.

The insurance company is looking to issue 25% right shares worth Rs. 50.30 Crores through the issue of 5,030,901.55 (1: 0.25) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 2.01 Arba. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 2.51 Arba.

Sanima Capital Limited is appointed as the issue manager.

Similarly, Securities Exchange Board of Nepal (SEBON) has added the right shares of Terhathum Power Company Limited (TPC) to its pipeline under preliminary review. The application was submitted to the board on Chaitra 7, 2080.

The hydropower company is looking to issue 100% right shares worth Rs. 40 Crores through the issue of 4,000,000 (1: 1) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 40 Crore. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 80 Crore.

Nabil Investment Banking Limited is appointed as the issue manager.