Last day to secure right issue of NLG Insurance

Feb 09, 2020 11:02 AM Merolagani

Today is the last day to secure 60 percent right issue of NLG Insurance (NGL). The company is closing its book on February 10 for the upcoming right issue, thus, the shareholders registered in its book till February 9 will be eligible to apply for the right shares.

The last traded price of the stock was Rs 869 on February 6. The company is issuing 3,842,437.50 units of right shares to its existing shareholders in the ratio of 10:6.

The company has appointed Laxmi Capital as its issue manager. ICRA Nepal has assigned Grade 3 rating to the right issue indicating average fundamentals.

Presently, the company has a paid-up capital of Rs 640 million that will reach Rs 1.02 billion after the right issue.

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