Sun Nepal Life Insurance Company Limited has revealed its plan to issue right shares at a ratio of 1:0.27, totaling 1,06,96,320 units, priced at Rs. 100 each.
Nepal SBI Merchant Banking Limited, a subsidiary of Nepal SBI Bank Limited, has been entrusted with the responsibility of managing the issuance and sale process.
The agreement formalizing this arrangement was signed during a ceremony held at the premises of Sun Nepal Life Insurance in Kathmandu. Mr. Lekhnath Pokhel, Managing Director and CEO of Nepal SBI Merchant Banking, along with Mr. Raj Kumar Aryal, CEO of Sun Nepal Life Insurance, officiated the signing ceremony.
The issuance of right shares provides existing shareholders the opportunity to purchase additional shares at a predetermined price, thereby increasing their ownership stake in the company.
This strategic move aims to bolster the financial position of Sun Nepal Life Insurance and facilitate its growth trajectory in the insurance sector.