Prabhu Insurance to Float 50.15 Percent Right Share

May 3, 2024 | Investopaper

Prabhu Insurance Limited (PRIN) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:0.5015. This means that the shareholders with 100 shares can apply for the additional 50.15 shares.

The annual general meeting (AGM) has approved a 4.75  percent bonus share to the shareholders. . The right share will be on the capital after the adjustment of the proposed bonus share.

As per the direction of Nepal Insurance Authority, the regulatory body of insurance companies, the non-life insurance companies are required to meet the minimum capital of Rs. 250 crores. Hence, Prabhu Insurance has opted for the right issue in order to reach the capital requirement.


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