NLG Insurance Converted Promoter Shares to Ordinary Shares

Kathmandu, March 22

NLG Insurance Company Limited (NLG) has converted its 20,83,113.45 unit promoter shares into ordinary shares.

Now, the company cannot convert promoter shares further than this since promoters must maintain a majority shareholding of 51% in a company. The new promoter to public shareholding ratio is 51: 49.

As of writing, NLG has the last trading day’s LTP of Rs. 1,089. NLG Insurance Company (NLG) has earned a net profit of Rs.15.39 crore till the second quarter (Q2) of the fiscal year 2077/78. It was Rs. 8.75 Crore in the corresponding quarter of the previous year.