Last day to apply for right shares of NLG Insurance

Jul 09, 2020 09:39 AM Merolagani

Today is the last day to apply for right shares of NLG Insurance (NLG). The company started its postponed 60 percent right shares from June 23. 

The company issued 3,842,437.50 units of right shares to its existing shareholders in the ratio of 10:6 from March 5 to 25. However, the right shares got postponed due to the lockdown imposed by the government.

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

The company has appointed Laxmi Capital as its issue manager. The interested existing shareholders can apply for the shares from Laxmi Capital- New Baneshwor, branch offices of NLG Insurance, designated branches of Laxmi Bank and all C-ASBA approved BFIs and through meroshare software.

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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