Life Insurance Corporation Nepal ( LICN ) Proposes to Issue Right Shares

Life Insurance Corporation Nepal Limited (LICN) has proposed to issue right shares in the ratio 1: 0.8845168 to its shareholders. As per the meeting held on 29 August the company has proposed to issue right shares which is yet to be approved by upcoming AGM.

The company currently has a paid up capital of Rs 2.65 Billion. LIC Nepal plans to issue 88.45% Right Shares to increase its paid up capital to Rs 5 Billion.

If the proposal is approved by the companies upcoming AGM and by Beema Samiti, then LIC Nepal will issue 2,34,68,000 unit right shares at par value Rs 100 to its shareholders.