NLG Insurance Company Limited (NLG) is closing its rights share issuance today, Poush 16, 2081 (December 31, 2024). This issuance offers shareholders rights in a 10:6.256 ratio, allowing them to purchase 6.256 shares for every 10 shares held at a par value of Rs. 100 per share.
Details of the Rights Share Issuance
- Opening Date: Mangsir 11, 2081 (November 27, 2024)
- Extended Closing Date: Poush 16, 2081 (December 31, 2024)
- Total Issuance:
- 9,631,220.22 units worth Rs. 96.31 crore
- Represents 62.56% of the company’s paid-up capital
The current paid-up capital of the company stands at Rs. 1.53 Arba. After this rights issuance, it will increase to Rs. 2.50 Arba. As of the final day, 17,324 applicants have applied for 22,70,352 units, amounting to Rs. 22.70 crore, representing 23.57% of the total offering, indicating a partial subscription.
Eligibility and Key Dates
- The Book Closure Date was on Kartik 27, 2081 (November 13, 2024)
- Shareholders who held shares before this date are eligible for the rights offering.
Issue Manager and Application Points
Laxmi Sunrise Capital Limited served as the issue manager for this rights share offering. Applications were accepted at:
- Laxmi Sunrise Capital Limited, Kamalpokhari, Kathmandu.
- NLG Insurance Company Limited offices, including its central and regional branches.
- Branches of Laxmi Sunrise Bank Limited across Nepal.
- C-ASBA member banks and financial institutions.
Notice: NLG Insurance Ends Rights Share Issuance
Final Note
The rights share issuance marks a significant step in increasing NLG Insurance’s capital base, enhancing its financial capacity and operational scalability. Eligible shareholders are reminded to complete their applications by the closing date to secure their rights.