Banking News – A positive circuit has been triggered in the share price of Nepal Reinsurance Company. Within minutes of trading starting on the Nepal Stock Exchange (NEPSE), the share price increased by 15 percent, triggering a circuit breaker.

The company’s share price increased after the government decided to resume the process of the hundred percent rights offering of Nepal Reinsurance Company, which had been stalled for some time. The decision made by the Cabinet meeting held yesterday has had a positive impact on the company’s share price.

As of the preparation of this news, the company’s share price has increased by 15 percent to reach Rs 921.70. Starting trading today from Rs 801, the company’s share price rose by 15 percent within a few minutes of trading starting, climbing to the Rs 900 mark.

The Insurance Authority has set a paid-up capital of Rs 20 arab for reinsurance companies. The company, which currently has a capital of Rs 13 arab 42 crore, will raise the remaining amount by issuing rights shares. The company must issue a rights offering of approximately 50 percent at a ratio of 1:0.5.