Kathmandu. United Ajod Insurance Limited is issuing and selling right shares from April 26. The company is issuing 10 percent right shares i.e. 10 units of current paid-up capital i.e. 100 units of existing shares. The company will issue 23,10,000 units of right shares at a face value of Rs 100 per share.
The company had closed the book on March 3 for the right share issuance. Accordingly, the shareholders who have been traded in NEPSE till March 28 can apply for the right shares. The last date to apply for the right shares is April 1, 2083.
ICRA Nepal has assigned ICRA NP Issue Rating Triple ‘B’ to the company. 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 2.31 billion. After the right issuance, the paid-up capital of the company will reach above Rs 2.54 billion.
