Nepal Stock Exchange (NEPSE) has issued a circular stating that the trading of securities for the Ajod Insurance Limited (AIL) has opened to the general public, except for Basic shareholders.
A few months back, Ajod Insurance Limited (AIL) and Prabhu Insurance Company Limited (PRIN) signed a merger agreement. The present share capital of AIL and PRIN is Rs. 1 Arba and Rs. 1.28 Arba respectively. Likewise, the Last Trading Price (LTP) of these companies is Rs. 448 and Rs. 428.
Since the Insurance Regulatory Authority Committee issued a directive to increase the capital within a year, insurance companies have started merging up. The committee has set a minimum capital of Rs 2.5 Arba for non-life insurance companies. Further stating that this limit should be reached by Chaitra 2079.