Wed, Apr 24, 2024
The special general meeting (SGM) of United Insurance (UIC) has endorsed a proposal of issuing 240 percent right issue. The company is issuing the 10:24 right shares in a bid to meet the minimum paid-up capital as per IB directive.
The SGM held on February 28 decided to issue 7,257,600 units of right shares to its existing shareholders. The company has a paid-up capital of Rs 302.4 million.
After the right issue, the paid-up capital of the company will reach Rs 1.02 billion.
NIC Asia Bank (NICA) has published its third quarter report of the current FY. As per the report, the bank’s net profit has declined during the period.
