Sebon approves 46% right issue of Prabhu Insurance and 25% of Synergy Finance

Securities Board of Nepal (SEBON) has granted two listed companies an approval to float right shares. The two companies are Prabhu Insurance (PRIN) and Synergy Finance (SYFL) . 

Following this gree signal, Prabhu Insurance can now float a right share of 46%. The non-life insurance company will issue 31,66,677.63 unit shares at a face value of Rs 100. The company will soon announce a book close date and shareholders having the shares at that time will be eligible for the right. PRIN has already appointed Prabhu Capital as the issue manager. 

Similarly, Synergy finance has also been granted with an approval to float a right. The company can float shares at a ratio 100:25. The finance company will issue 11,86,022.47 units of shares at a face value of Rs 100. Prabhu capital is the issue manager for this company also.

Synergy finance is in the final stage of acquisition by Best finance company at a swap ratio 1:1.