IME General Insurance to auction 103,000 unit shares

Feb 24, 2019 Merolagani

IME General Insurance (IGI) is set to auction 103,364 units of unsold right shares. The company issued 80 percent i.e. 4,320,000 million units of right shares from January 1- February 4 in a bid to raise its paid-up capital as per IB requirement.

After allotting 4,217,636 units of shares to valid applicants, the company is auctioning the remaining 103,364 units.

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 capitalization of the right issue, the paid-up capital will totals Rs 972 million.

In order to meet the minimum paid-up capital requirement of Rs 1 billion, the company still needs Rs 28 million.

 


comments powered by Disqus

Net Profit of Civil  Bank Decreases by 35%

Aug 14, 2020 09:06 PM

The net profit of Civil Bank (CBL) has decreased by 35.40 percent in the fourth quarter of the last FY. The bank earned a net profit of Rs 457 million in the review period compared to Rs 700.7 million of the corresponding period of the previous FY.