KATHMANDU, Jan 21: Nepal Micro Insurance has opened its IPO sales for Nepali migrant workers starting today (Tuesday).
The company had received permission to issue 2.25 million shares worth Rs 225 million, which make up 30 percent of its total capital of Rs 750 million. These shares are priced at a face value of Rs 100 each.
Out of this, 225,000 shares worth Rs 22.5 million, which accounts for 10 percent, have been issued for Nepali migrant workers with the approval of the relevant government authorities.
Crest Micro Life Insurance to issue IPO from January 28
The company has allocated 67,500 shares for employees with 3 percent and 112,500 shares with 5 percent.
After that, the company will issue 1.845 million shares, worth Rs 184.5 million to the general public.
Those interested can apply for a minimum 10 shares and a maximum 100,000 shares. Nepali citizens working abroad will be able to apply for the IPO until February 4.
NIMB Ace Capital Limited is serving as the IPO issuance and sales manager. All ASBA member banks and financial institutions and their designated branch offices which have received approval from the Nepal Securities Board and the software 'Mero Share' developed by CDS and Clearing can apply online through the C-ASBA system.
