The board approved 40 percent right shares of the company.
The company has paid-up capital of Rs 1.89 billion; thus, it will issue 40 percent i.e. 6,576,937 units shares with a face value of Rs 100 to its existing shareholders.
According to directives of Nepal Insurance Authority, non-life insurance companies are required to meet the minimum paid-up capital of Rs 2.50 billion. After the right issue, the paid-up capital of the company will reach Rs 2.54 billion.
