Lumbini General Insurance closing 17.60 lakh units right issue from today
December 15, 2019 | Investopaper
Lumbini General Insurance is closing 17.60 lakh units right issue to its shareholders from today (Mangsir 29, 2076). The issue of the right share was open from Karthik 24, 2076.
The company is issuing the right in the ratio of 10:2. This indicates that shareholders with 100 shares can purchase 20 units right.
The current paid-up capital of the company is Rs. 88 crores. Lumbini General Insurance is trying to meet the minimum capital requirement of Rs. 1 Arba for non-life insurance through the issue of the right share worth Rs. 17.60 crores.
ICRA Nepal has provided IPO GRADE 3 ratings to the issue. This denotes that the company has average fundamentals.
The right issue received approval from Sebon on Ashwin 8, 2076.
After the issue of the right share, the capital of Lumbini General Insurance will reach Rs. 105.60 crores.
CBIL Capital Limited is the issue manager for floating the right shares.
Also Read: Best Non-Life Insurance Companies In Nepal
