IME General Insurance Starts Issuing Right Shares

Jan 01, 2019 Merolagani

IME General Insurance (IGI) has started issuing 80 percent right shares from January 1 in a bid to raise its paid-up capital as per IB requirement.

Currently, the company has a paid-up capital of Rs 540 million. The company is issuing 80 percent i.e.  4.32 million unit of right shares of the current paid-up capital amounting to Rs 432 million. After the right issue, the paid-up capital will totals Rs 972 million.

The company closed its book from November 23, thus, the shareholders registered in its book till November 22 will be able to apply for the right shares.

The company has appointed Global IME Capital as its issue manager. The interested investors can apply for the right shares from all C-ASBA approved BFIs and through meroshare software.

As per the issue manager, the issue will close on February 4. In the first quarter of the current FY, the company earned a net profit of Rs 26.1 million and has EPS of Rs 19.36.


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