United Insurance to issue 240% right issue

Apr 15, 2019 Merolagani

United Insurance (UIC) has sought approval from Securities Board of Nepal (SEBON) to issue 240 percent right issue in a bid to maintain the minimum paid-up capital requirement as per IB directive.

The company is planning to issue 7,257,600 units of shares at a ratio of 10:24 to its existing shareholders.

After the right issue, the paid-up capital will reach Rs 1.02 billion. Care Rating Nepal has assigned Grade 4 to the issue indication below average fundamentals.

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