NLG Insurance Company Limited (NLG) has revised its right share issuance rate to 62.56%, down from the initially planned 66%. This decision was made during the company’s 449th Board of Directors meeting on Bhadra 24, 2081.
The original 66% right shares issuance had been approved during a special general meeting on Shrawan 15, 2080, with the company submitting its application to the Securities Board of Nepal (SEBON) on Kartik 2, 2080.
Later, at the 18th Annual General Meeting held on Falgun 3, 2080, NLG Insurance approved a 5.50% bonus share distribution, which resulted in an increase in the company’s paid-up capital to Rs. 1,53,95,35,958.97. After reviewing the situation, the Board of Directors decided to issue 62.56% right shares, which is expected to raise the paid-up capital to Rs. 2,50,25,15,701.30.
The company is now awaiting approvals from both the Nepal Insurance Authority and the next Annual General Meeting (AGM) to proceed with issuing the revised right shares. Once authorized, this move will help NLG Insurance meet regulatory capital requirements and further strengthen its financial standing.