NLG Insurance to Issue 62.56% Rights Shares from Mangsir 11

NLG Insurance Company Limited has set the date to issue a 62.56% rights share from Mangsir 11. Shareholders will be able to apply in the ratio of 10:6.256, meaning 6.256 new rights shares for every 10 shares held.

Rights Ratio: 10:6.256 (6.256 new shares for every 10 existing shares)

Total Rights Shares: A total of 9.631 million rights shares worth NPR 963,122,220.22 will be issued at a par value of NPR 100 per share.

Paid-Up Capital: After the rights issuance, the company's paid-up capital will reach NPR 2.5026 billion.

Application Dates:

• Book Closure Date: Kartik 27 (shareholders holding shares until Kartik 26 can apply).

• Final Application Date: Poush 1.

Rating:

• ICRA NP Issuer Rating A Minus: ICRA Nepal has assigned the company an A Minus rating, indicating adequate safety in meeting financial obligations on time.

Issue Manager:

• Laxmi Sunrise Capital Limited is the issue manager for this rights share issuance.

Where to Apply:

• C-ASBA System: Applications can be submitted through the issue manager's office, NLG Insurance's central and regional offices, Laxmi Sunrise Bank branches outside the valley, and banks and financial institutions participating in the C-ASBA system.

This rights share issuance aims to strengthen NLG Insurance's capital base, enhancing the company’s financial foundation.