United Insurance Company to float 240% right shares to hike its paid up capital to meets directives of Beema Samiti.
The board meeting of the company held on 22 Magh 2075 has decided to float 1:2.4 or 10: 24 right shares for its existing shareholder in order to hike its capital.
The company will be issuing 72,57,600 units of share at the rate of Rs.100.
The right share will be issued only after approval from special general meeting (SGM) & other regulatory bodies.
Currently, its paid up capital is Rs.30.24 crore. After issuance of 240% right shares paid up capital will reach to Rs.1.02 arba.
