Kathmandu. United Ajod Insurance Limited has extended the deadline to apply for the right shares from April 26. Now, the application for the right shares can be submitted till May 14.
The company is issuing 10 units of right shares in exchange for its existing 100 units. Accordingly, the company is issuing 23,10,000 units of right shares at a face value of Rs 100 per share.
The company had closed the book on March 30 for the purpose of issuing right shares. Accordingly, the shareholders who have been traded in NEPSE till March 28 can apply for the right shares.
ICRA Nepal has assigned ICRA Nepal Insurance Company Limited ‘Triple B’ rating for the right issue. This indicates that the ability to bear financial obligations on time is secured to a moderate extent.
Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares from the respective banks and financial institutions with permission from Laxmi Sunrise Bank’s designated branches and Securities Board of Nepal (SEBON).
Presently, the company has paid-up capital of Rs 2.54 billion. After the issuance of right shares, the company will reach its paid-up capital of Rs 2.54 billion.
