KATHMANDU, Jan 28: Crest Micro Life Insurance has opened its IPO issuance starting from Tuesday. The insurance company is offering the IPO in the first phase specifically to workers who are employed abroad.
The company has allocated 225,000 shares for workers who are employed abroad. The IPO, priced at a face value of Rs 100 per share, will remain open until February11. The company is issuing an IPO worth Rs 225 million, which represents 30 percent of its total capital of Rs 750 million
After receiving approval from the Securities Board of Nepal (SEBON) on January 16, the company proceeded with the IPO issuance. The company, which was granted a license for micro-insurance operations by the Nepal Insurance Authority in 2022, began its business operations last year.
The insurance company earned a profit of Rs 8.855 million last year. As of mid-July, earnings per share were Rs 2.41 and net worth per share was Rs 103.27.
The insurance company has projected to earn a profit of Rs 26.9 million in the current fiscal year. It is estimated that earnings per share will reach Rs 7.74 and net worth per share will reach Rs 109.31.