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.
Highlights:
- “Sun Nepal Life Insurance Company Limited Initiates IPO Issue for Nepalese Citizens Working Abroad”
- “Sun Nepal Life Insurance Announces 76.80 Lakh IPO Shares for General Public at Premium Price from Shrawan 32”
- Sun Nepal Life Insurance to Hold 7th AGM, Declares Dividend and Bonus Shares
- Sun Nepal Life Insurance Proposes Dividend and Right Shares
- Lower Erkhuwa Hydropower Taps Muktinath Capital for IPO Management, Offers 21.5% of Capital to Public