Neco Insurance Limited Closing Auction of 1,81,481.83 Unclaimed Right Shares from Today

Neco Insurance Limited (NIL) is closing the auction of 1,81,481.83 units of unclaimed right shares to the general public from today, i.e., on the 21st Baisakh, 2082. The auction opened on the 12th Baisakh, 2082.

Of the total right shares issued, only 48,05,640.2 (95.53%) units were allotted to eligible shareholders. 4.47% of shares were unclaimed by eligible investors. Thus, the same 17,98,656 units of unsold right shares are auctioned to the general public and will close today.

This is the unclaimed portion of the rights offering. The company had issued a 1:0.25 ratio right share issue to its shareholders from 8th Falgun to 14th Chaitra, 2081.

Individuals and institutions are all eligible to bid for the auction.

Sanima Capital Limited has been appointed as the issue manager of this rights issue. The minimum bid rate for the auction is Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units, and for promoter right shares, the minimum bid quantity is 1,000 units. Although bidders can bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.