The Nepal Securities Board (NSB) has decided to allow to issue right share for two insurance companies. A meeting of the board of directors held on Wednesday gave permission to IME General Insurance and Shikhar Insurance for right share.
After the board’s decision, IME General Insurance has been allowed to issue 40 percent of the right share in the ratio of 10: 4.
Now, the company will issue 46,30,344 shares equal to Rs 46,30,34,400. The company has selected Global IME Capital as the sales manager for the rights issue. The company had applied to the board on Bhadra 17 to issue the right share.
Similarly, Shikhar Insurance has got permission to issue 30 percent righ share in the ratio of 10: 3. With the permission of the board, the company will issue 52,75,572 shares equal to rs.52 crore 75 lakh 57 Thousand 2 hundred . The company has appointed NIBL S Capital as the issue and sale manager for the rights issue.
Shikhar had applied to the board on Jesth 25 to issue right share.