KATHMANDU, Dec 27: The initial public offering (IPO) of Himalayan Reinsurance issued to the general public has been distributed on Wednesday. Sales Manager NMB Capital organized a program and distributed the IPO on Wednesday morning. All those whose applications have been accepted have received the IPO of Himalayan Reinsurance. Those who demanded up to 30 shares got as much as they demanded.
Those who applied for 10 shares got only 10 shares, those who applied for 20 shares got only 20 shares and those who applied for 30 shares got only 30 shares. Among those who requested 40 or more, 29,021 people got it at the rate of 40 shares.
The company had opened an application for a total of 24.9 million shares.
Nepal Reinsurance plans to raise Rs 1.6 billion in IPO
During the IPO process, the issue had received applications from 15,64,564 valid applicants who had applied for a total of 2,99,97,720 units. The issue was oversubscribed by more than 1.2 times.
As per the allotment module, applicants who applied up to 30 units get as per applied units, and applicants who applied from 40 units to 34,050 units get 10 units extra via lottery. Out of 96,538 applicants who are eligible for the lottery, only 29,021 applicants were allotted 10 units extra via lottery i.e. they were allotted 40 units in total.
