May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share distribution.
The AGM concluded on Friday, May 20 also decided to issue FPO (Follow on Public Offering) which is necessary to maintain the ownership of promoter and public shares in the ratio 70:30 on its paid-up capital after the distribution of bonus shares. After the FPO, the company’s paid-up capital will be Rs 2.47 billion.
Shareholders in the AGM were informed that Nepal Life Insurance Company has collected Rs 8.9 billion in insurance premiums out of the total collection of Rs 28.83 billion by the country’s insurance sector in the review year. According to the company, the premium collection has led to the company achieving around 33 percent of the market share.
As per the company, it has been successful in maintaining 8.27 average yield of the total investment even during the adverse situation.
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