Thu, Apr 25, 2024
United Insurance (UIC) is set to issue 240 percent right shares in a bid to meet the minimum paid-up capital as per Insurance Board.
The board of directors meeting of the company held on February 5 decided to issue 10:24 right shares to its existing shareholders.
The company has current paid-up capital of Rs 302.4 million that will reach Rs 1.02 billion after the right issue.
The net profit of development banks has declined less compared to commercial banks and finance companies in the third quarter.
