Right Shares of Prabhu Mahalaxmi Life Insurance Limited Added in SEBON Pipeline; Company to Issue 17% Right Share

The Securities Exchange Board of Nepal (SEBON) has added the right shares of Prabhu Mahalaxmi Life Insurance Limited (PMLI) to its pipeline under preliminary review. The application was submitted to the board on Falgun 22, 2080.

The insurance company is looking to issue 17% right shares worth Rs. 73.03 Crores through the issue of 7,303,200 (1: 0.17) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 4.29 Arba. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 5.02 Arba.

Siddhartha Capital Limited is appointed as the issue manager.