United Ajod Insurance Limited (UAIL) has announced a plan to issue 15% right shares to meet the minimum capital requirement set by the Nepal Insurance Authority (NIA). This decision was made during the company’s 32nd board meeting on Jestha 09, 2081.
Currently, UAIL has a paid-up capital of Rs. 2.1 Arba. The proposed issuance of right shares will add Rs. 31.50 Crores, bringing the total paid-up capital to Rs. 2.41 Arba. Despite this increase, the company will still fall short of the regulatory requirement of Rs. 2.50 Arba, which needs to be met by the end of Ashad, 2081.
For this proposal to move forward, UAIL must secure approvals from both the regulatory authority and the Securities Board of Nepal (SEBON). Once these approvals are obtained, the company will distribute the right shares to its existing shareholders.
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