Kathmandu. United Ajod Insurance Company is going to open the issue of right shares from April 26. The company is issuing 10% right shares of its current paid-up capital.

The company is issuing 10 units of right shares in exchange for its existing 100 units. The company will issue 23,10,000 units of right shares at a face value of Rs 100 per share.

The insurance company had closed the book on March 30 for the right share issuance. Accordingly, the shareholders who have been traded in NEPSE till February 26 can apply for the right shares. Applications for the right shares of the insurance company can be submitted till April 1, 2083.

Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares from the issue manager and designated branches of Laxmi Sunrise Bank, Securities Board of Nepal (SEBON) from the banks and financial institutions participating in the ASBA service as well as through the online c-ASBA system using ‘Mero Share’ software developed by CDS & Clearing.