Surya Life Insurance Company Limited (SLICL) has decided to issue 10:4 (40%) right share to its shareholders in the coming days. The company has already initiated the procedure by adding its request in the SEBON pipeline for approval of the issuance of the right share.
Surya Life Insurance is waiting for approval from Securities Board of Nepal (SEBON) to issue 2,887,500 units of shares, which will be floated in the market with the rate of Rs. 100 per share unit. The company has appointed NIC Asia Capital Limited as its issue manager.
In the first quarter of the fiscal year 2074/75, Surya Life Insurance Company Limited has been able to earn a net profit of Rs. 5.228 crore. The company currently holds the paid-up capital of Rs. 65.625 crore and it will climb up to Rs. 94.50 crore after it issues the 40% right share, which is to be approved.
Surya Life Insurance Company Limited is a public limited company that was established and registered under Company Act 2063 B.S. and Insurance Act 2049 B.S. It acquired its license to work as a Life Insurance Company in 2064 B.S. (2008 A.D.). With its corporate office at Sano Gaucharan, Kathmandu, Nepal, the company has spread widely in all the five developmental regions of Nepal through its branch offices.