(NICL) Nepal Insurance Receives SEBON Approval to Issue 40% Rights Shares

Nepal Insurance Company Limited (NICL) has received approval from the Securities Board of Nepal (SEBON) to issue 40% rights shares based on its current paid-up capital. As per the decision made on Wednesday, NICL will issue 6,576,937 units of rights shares at a face value of Rs. 100 each. The current paid-up capital of the company stands at Rs. 1.89 billion. This rights issue is part of the company’s effort to meet the minimum capital requirement of Rs. 2.5 billion set by the Insurance Board of Nepal for non-life insurance companies. After the issuance, NICL's paid-up capital will reach approximately Rs. 2.54 billion.