Sebon approves 60% right share of National Life Insurance ; Paid-up to meet the required capital

Securities Board of Nepal (SEBON) has approved the 60% right issue of National Life Insurance. 

The company will soon announce a book close date and issue 99,36,477.50 unit right shares for its shareholders at a face value of Rs 100.

NIBL ACE Capital has been appointed as the issue manager for the issue.

NLICL's capital will hike to Rs 2.64 arba after the right issue, meeting the capital requirement set for life insurance companies. National Life Insurance had earned a net profit of Rs 22.20 crores as of 3rd quarter 2074/75. It has an EPS of Rs 17.96 and a Networth of Rs 126.44