Sun Nepal Life Insurance Sets Book Closure Date for Rights Issue
Author
NEPSE trading
Sun Nepal Life Insurance Company has announced the book closure date for its rights issue. The company has decided to close its books on April 18, 2025, meaning only shareholders registered by April 17, 2025, will be eligible to apply for the rights shares.
The company received approval from the Nepal Securities Board on March 16, 2025, to issue rights shares. It plans to issue rights shares equivalent to 27 percent of its paid-up capital, amounting to NPR 1.069 billion. This includes 10.696 million rights shares to be issued.
The Nepal Insurance Authority has mandated life insurance companies to maintain a minimum paid-up capital of NPR 5 billion. To comply with this requirement, Sun Nepal Life Insurance is issuing rights shares to bolster its capital base, aiming to strengthen its financial foundation.
