Neco Insurance is issuing a 25% rights share from today.

Neco Insurance Company Limited (NIL) has opened its 25% rights share issuance and sale from today (Falgun 8). The company is issuing rights shares in a 4:1 ratio, meaning shareholders will get 1 new share for every 4 shares they currently hold. As per this, the company will issue 5,030,901.55 shares with a total worth of NPR 503,090,155 at a face value of NPR 100 per share.

Shareholders who were listed on NEPSE by Magh 15 are eligible to apply for the rights shares, with applications open until Falgun 28. Sanima Capital Limited is managing the issuance. Investors can apply through Neco Insurance’s central and regional offices, ASBA-participating banks and financial institutions, or online via the ‘Mero Share’ platform. After the rights issue, the company's paid-up capital will increase to NPR 2.51 billion.