IGI applies to SEBON for 40pc right shares

Kathmandu:IME General Insurance Company is going to issue 40 percent of right shares. The company has submitted an application to the Securities Board of Nepal (SEBON) on Thursday to issue 40 percent (10: 4) of the paid-up capital after the distribution of bonus shares.

The current paid up capital of the company is Rs 1.15 billion. After the issuance of 40 percent rights shares, the company’s paid-up capital will reach Rs 1.62 billion.

The issue of right shares has been approved by the Insurance Board and the 23rd Annual General Meeting of the company. Now after the approval from the Nepal Securities Board, the company will issue 40 percent of its shares.

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