Last day to apply for right shares of Prudential Insurance

Jul 03, 2020 10:45 AM Merolagani

Today is the last day to apply for 60 percent right shares of Prudential Insurance (PICL).

The company started issuing 60 percent right issuance from June 21. It is issuing 3,849,120 units of right share worth Rs 384.9 million at a ratio of 10:6 to its existing shareholders.

The company closed its book from February 10, thus, the shareholders registered in its book till February 9 are eligible to apply for the right issue.

The company has appointed NMB Capital as its issue manager. The interested shareholders can apply for the right shares from NMB Capital, designated braches of NMB Bank, Goodwill Finance and Central Finance. Moreover, they can apply for the shares from all C-ASBA approved BFIs till July 3.

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

Presently, the company has a paid-up capital of Rs 641.5 million that will reach Rs 1.02 billion after the right issue.

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