34 investors were allotted 67,941 units auctioned shares of Neco Insurance; cut-off price stood Rs 380

ShareSansar, June 5:

Neco Insurance Company Limited (NIL) had auctioned its 67,941 units ordinary right shares and 4,062 units Promoter right share to the general public from Ashad 8 to Ashad 17, 2072. The bid was already opened on Ashad 18 (Last Friday)

According to Kamal Khatri, Assistant Manager of Civil Capital Market Limited said that the company set the cut-off price for the 67,941 units ordinary shares at Rs 380.  The highest bid amount for the auction shares received was Rs 435. Only 34 applicants were allotted shares out of the 393 applicants who submitted their bids for 67,941 units of ordinary shares.

Likewise, for 4,062 units Promoter right share, the company set the cut off price of Rs 200. Only 1 applicant bid for the 4,062 unit promoter share and got the shares.

Neco Insurance had posted net profit of Rs.4.22 crore in its third quarter company analysis of the fiscal year 2071/72.

The last traded price of NIL stood at Rs 434 as on July 2 in NEPSE.