NLG Insurance IPO shares listed in NEPSE, trading will commence from today

ShareSansar, JULY 17:

NLG Insurance Company Limited And Nepal Stock Exchange Limited has signed an agreement on Asad 25 to list former company Rs 100 face value 22,50,000 units ordinary shares for trading in the secondary market of Nepal from Shrawan 1st, 2070.

Earlier, NLG Insurance had launched its IPO on 16th Chaitra, 2069. The insurance company had allotted 614,250 unit shares to the public, whereas 27,000 units were allotted for its staff and 33.75 thousand units have been set aside for mutual fund companies.

Civil Capital Market Limited has been appointed as Registrar to Share of NLG. Civil Capital was also the issue manager for the same. The IPO was oversubscribed by more than 30 times and was able  to collect approx Rs 2 billion from the market.

The agreement signed between Mr. Sitaram Thapaliya, the newly appointed GM of the Nepse and Mr. Bijay Bahadur Shah, CEO of the NLG Insurance Company Limited.

Till today 22 companies from the Insurance Sector and overall 228 companies including NLG have listed their Shares in the Nepse for trading in the secondary market of Nepal.

Earlier the company has already approved a 20 percent bonus share to its shareholders  from the profit of FY 2068/69 from its recently held 7th AGM on 21st Asad, 2070.

The stock price of NLG might open around Rs 250 levels  in the market. There have been a very good demand of this scrip since the opening of its IPO.

Announcement Notice: CLICK HERE