Kathmandu. Citizen Life Insurance has decided to change the share ownership of the promoters and the general public.
The company’s board of directors has decided to change the share ownership of promoters and general public to 60 percent and 40 percent respectively. The company has made it clear that this change will be done in accordance with the Directive on Promoter Share Transaction of the Insurer, 2077 issued by the Nepal Insurance Authority.
Currently, the promoter group owns 70 percent of the shares and the general public owns 30 percent of the shares. To change the share ownership, the company will change 10 percent of the promoter shares to the general public.
After the approval of the Insurance Authority, the company will present the proposal of share ownership change in the upcoming annual general meeting.
