IB Approves Right Issue of United Insurance

Jun 24, 2019 10:16 AM Merolagani

Securities Board of Nepal (SEBON) has approved 240 percent right issue of United Insurance (UIC) on June 23. The company is set to issue the right share in a bid to increase its paid-up capital.

The company is issuing 7,257,600 units of shares worth Rs 725.7 million at a ratio of 10:24 to its existing shareholders.

Presently, the company has a paid-up capital of Rs 302.4 million which will reach Rs 1.02 billion after the right issue.

Care Ratings Nepal has assigned grade 4 to the right issue indicating below average fundamentals.

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