IME General Insurance To Close 40 Percent Right Issue On Chaitra 13
March 27, 2022 | Investopaper
IME General Insurance Company Limited (IGI) is currently issuing the right share to its shareholders from Falgun 22, 2078 BS. The deadline for application is until Chaitra 13, 2078 BS
The company is floating the right share in the ratio of 10:4. That means, shareholder with 100 shares can apply for the additional 40 right shares.
IGI had fixed the book closure date on Falgun 1, 2078 BS. Therefore, investors holding/purchasing the shares of IGI until Magh 28, 2078 BS will be eligible to apply for the right share.
Securities Board Of Nepal (SEBON) provided the approval to the company on Magh 6, 2078 BS for the issuance of the right share. IGI had submitted the application to the board on Bhadra 17, 2078 BS.
As of Ashad’s end, 2078 BS, IGI has a paid-up capital of Rs 115.75 crores. Hence, the company will issue a total of 4,630,344 shares to its shareholders that amounts to Rs 46.30 crores.
For the purpose of right offering, the company has appointed Global IME Capital Limited as the issue manager.
After the sale of right shares, the capital of IGI will rise to Rs 162.05 crores. In the fiscal year 2077/78, the insurance has collected Rs 152.11 crores as total premium.
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