KATHMANDU, Feb 23: Nepal Micro Insurance Company Limited (NMIC) has issued an Initial Public Offering (IPO) starting today. The company has opened the sale of 1.845 million shares, worth Rs 184.5 million for the public from Sunday.
Investors can apply for a minimum of 10 to a maximum of 100,000 units at a face value of Rs 100.
The company has stated that applications for the IPO can be submitted until February 27. The company has already issued and distributed 225,000 units of shares worth Rs 22.5 million for Nepali citizens working abroad in the first phase.
The company had received approval from the Securities and Exchange Board of Nepal (SEBON) to issue 2.25 million shares worth Rs 225, equivalent to 30 percent of its issued capital of Rs 750 million.
NIMB Ace Capital Limited is serving as the IPO issuance and sales manager.