Nepal Insurance 65% right issue from today

March 5, 2019 | Investopaper

Nepal Insurance(NICL) is issuing 1:0.65 or 65% right share to its shareholders from today (Falgun 21, 2075). The issue will remain open till Chaitra 25, 2075.

The insurance company will issue 40,14,651.58 units of right shares to the shareholders. The shareholders until Magh 25, 2075 will be eligible for the right share offering.

Global Ime Capital Limited is the issue manager for the right issue. After the issue of the right share, the paid-up capital will reach Rs. 102 crores.

Based on the unaudited second-quarter report, the net profit has increased by 71% to Rs. 7.32 crores in the second quarter. The net profit as of the 2nd quarter previous year stood at Rs. 4.28 crores.

The net premium till the second quarter is Rs. 24.01 crores. The net claim until the second quarter is Rs. 9.83 crores. The total premium collection is Rs. 57 crores. The total outstanding claim remains at Rs. 113.45 crores.

The insurance has paid up capital of Rs. 61.76 crores, a reserve of Rs. 27.36 crores and insurance fund of Rs. 23.14 crores. The Annualized EPS is Rs. 23.72 and net worth per share are Rs. 181.77 as of the unaudited second quarter.


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