Last day to apply for right shares of two companies

Dec 15, 2019 10:16 AM Merolagani

Today is the last day to apply for right shares of two companies including NMB Laghubitta and Lumbini General Insurance.

NMB Laghubitta (NMBMF) started issuing 150 percent right shares from November 10. The company is issuing 2,430,093.75 units of right shares at a ratio of 10:15.

The company closed its book on October 24 for the right shares, thus, the shareholders registered in its book till October 23 are eligible to apply for the right issue.

The company has appointed Sunrise Capital as its issue manager. The interested existing shareholders can apply for the shares from Sunrise Capital at Kamalpokhari-Kathmandu and all branch offices of Sunrise Bank, as well as, all ASBA approved BFIs and meroshare software.

 ICRA Nepal has assigned Grade 4 rating to the issue indicating below average fundamentals.

Similarly, Lumbini General Insurance (LGIL) started issuing 20 percent right shares from November 10.  The company is issuing 1.76 million units of right shares to its existing shareholders at a ratio of 10:2.

Lumbini General has appointed CBIL Capital as its issue manager. The company closed its book on October 14 for the right issue, thus, the shareholders registered in its book till October 13 are eligible to apply the right shares.

The interested shareholders can apply for the right shares from all ASBA approved BFIs and through meroshare software. Moreover, the shareholders can apply from CIBL Capital in Dillibazar, Batuleghar and all branches of Citizens Bank.

ICRA Nepal has assigned grade 3 rating to the right issue indicating average fundamentals.

Presently, the company has a paid-up capital of Rs 880 million that will reach Rs 1.05 billion after the right issue.


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