The company is issuing 88.45168 percent rights shares to its existing shareholders.
Accordingly, the company will issue 23,468,000 units of right shares at a face value of Rs 100 per unit.
In this regard, the company closed its book on October 25, thus, the shareholders registered in its book till October 24 are eligible to apply the right shares.
ICRA Nepal has assigned A+ rating to the issue indicating adequate safety.
The company has appointed Nepal SBI Merchant Banking as issue manager. The interested existing shareholders can apply from the office of issue manager as well as all branches of Life Insurance Corporation (Nepal). Moreover, they can apply from all ASBA approved BFIs.
Currently, the company has paid-up capital of Rs 2.65 billion which will reach Rs 5 billion after the right issue.
