KATHMANDU, March 7: The Initial Public Offering (IPO) of Nepal Micro Insurance Company (NMIC) was allotted on Friday.
In the allotment held at the office of the sales manager, NIBL Ace Capital, a total of 184,500 individuals were allotted shares through a lottery system.
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A total of 1.817 million applicants had applied for 22.44 million shares in the IPO. Among these applications, 10,386 were canceled. The company issued the IPO from February 23 to 27.
The company had received permission to issue 2.25 million IPO units of shares worth Rs 225 million, representing 30 percent of the issued capital of Rs 750 million. A total of 225,000 shares worth Rs 22.5 million, representing a 10 percent share, have been issued for Nepali workers abroad.
Similarly, 67,500 shares have been issued for employees, and 112,500 shares have been issued and distributed to mutual investment funds.
The company has issued 1.845 million shares worth Rs 184.5 million to the general public. Investors can view the results of the IPO on the website of the sales manager, NIMB S Capital, and on the Mero share account.
