Prabhu Insurance to increase its capital to Rs 2.5 billion by issuing rights shares

Apr Fri 2022 03:47:58

237 views

Prabhu Insurance to increase its capital to Rs 2.5 billion by issuing rights shares

Kathmandu: The bonus share of Prabhu Insurance has been passed. The general meeting held on Wednesday, April 12, approved the proposed 11% bonus share and 0.58% cash dividend for tax purposes. The General Assembly was held at Prabhu Complex, Tinkune, Kathmandu. As it has been passed by the general meeting, the process of sending it to the shareholder's account will be started after some time. The meeting also approved a special resolution to issue rights shares to increase the minimum paid-up capital to Rs 2.5 billion as directed by the Insurance Committee.

As the general meeting passed the proposal to increase the paid up capital by issuing right shares, it has been decided to prepare the capital plan accordingly and submit it to the insurance committee. The General Assembly authorized the Board of Directors to submit to the Insurance Committee. Currently, the company is providing services from more than 55 branches and sub-branches including the central office.