Himalayan General Insurance to refund auction money to non-allottee investors from Mangsir 18; Summit Microfinance bid opening on Mangsir 18

Himalayan General Insurance Company Limited (HGI) will be refunding 71,530 units shares auction money to the non-allottee investors from Mangsir 18, 2074. The non- allottee investor’s money will be refunded in their respective bank accounts. Himalayan General Insurance Company Limited (HGI) had auctioned 71,530 units ordinary shares to the general public from Kartik 27, 2073 to Mangsir 4, 2073. The bid was opened on Mangsir 8, 2073. NMB Capital Limited has been assigned as the issue manager for this auction. The cut off price for ordinary auctioned shares stood at Rs 634. Recently, Himalayan General Insurance has proposed 15% cash dividend to its shareholders from the profit it made in the fiscal year 2073/74. Earlier it had issued 166.67% right share and after issuance of 166.67% right share, its paid up capital reached Rs 1.02 arba. HGI has already met the capital requirement of Rs 1 arba as directed by the Insurance Board, HGI has earned net profit of Rs 2.23 crore in the first quarter of FY 2074/75. Meanwhile, Summit Microfinance Development Bank Limited (SMFDB) has published the notice about bid opening date of auction shares. The microfinance company has auctioned 4,085 units ordinary shares and 22,476 unit promoter shares from Mangsir 4, 2074. The bid closed on Mangsir 11, 2074. As per the notice published by the microfinance company today, Sanima capital, the issue manager for the auction shares, will be opening bid on Mangsir 18, 2074 at 3 PM in the premises of Sanima Capital located at Narayanchaur, Naxal, Kathmandu.