2,23,99,367 additional shares of Himalayan Everest Insurance Linited (HEI) have now been listed in NEPSE.
Himalayan General Insurance Company Limited (HGI) & Everest Insurance Company Limited (EIC) agreed to become one at the swap ratio of 85: 100. Thus, the additional shares after the merger are now listed in NEPSE. EIC total listed shares were 12,546,207 units whereas HGI had 11,735,091 units listed shares.
A memorandum of understanding (MoU) was signed on 22nd Baisakh, 2079 regarding the merger between both the institution. After a successful merger of these two non-life insurance companies the paid-up capital reached only Rs 2.24 Arba. The paid-up capital of Himalayan General was Rs 1.17 Arba and that of Everest Insurance was Rs 1.25 Arba.
The open price range is set at Rs. 510.48 for the first transaction of the company.