KATHMANDU, Feb 20: Various six insurance companies are preparing to issue rights shares (around 314 million units) equivalent to Rs seven billion.
According to the Securities Board of Nepal (SEBON), six insurance companies are to issue right shares of such quantity on the basis of applications they have already submitted to the Board in this regard.
Surya Life Insurance (2,887,500 units) is to give 4 units of right shares for 10 units each and the NIC Asia Capital is the issue manager. In the fiscal year 2072-73 BS, it had provided a five percent bonus to the company shareholders.
Siddartha Insurance (2,244,973 units) is come up with 3.5 units for 10 units each for the current shareholders and the NMB Capital has been chosen as its issue manager. Company's bonus for the year 2073-74 BS was 20 percent.
Gurans Life Insurance is another company seeking time for allotment of right shares. The company has appointed the Laxmi Capital Market the issue manager for the allotment (2,907,000 units). It is providing one unit of share for two units each for its existing shareholders. The company had, in the fiscal year 2072-73 BS, provided an eight percent bonus.
Likewise, the Everest Insurance Company is allotting 7,290,000 units of right shares through the Siddhartha capital. In the fiscal year 2072-73 BS, the company provided a 20 percent bonus to its shareholders.
The National Life Insurance is the fifth company in the pipeline coming up with right shares (9,936,477 units). NIBL Capital has been appointed the company issue manager.
In the fiscal year 2073/ 74 BS, the company gave a 25 percent bonus to its shareholders.
The sixth insurance company waiting for the time to allot right shares is the Nepal Insurance and it has been preparing to issue 3,019,886 units of shares. In the fiscal year of 2071-72 BS, the company had provided a 9.47 percent bonus. The NIBL Capital is its issue manager.
A total of 22 insurance companies have been listed in the Nepal Stock Exchange Limited. RSS