The existing promoter of Premier Insurance Company Limited (PIC) is auctioning the promoter shares of the company. The auction has opened today, i.e. 26th Poush and will close on 7th Magh, 2078.
5,38,965 units promoter shares of Premier Insurance are being auctioned. Individuals, institutions, and existing promoters are all eligible to bid for the auction.
Rs. 395 is the minimum bid rate for the auction. While the minimum bid quantity for shares is 500 units, there is no upper limit for the shares. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
NIC Asia Capital has been appointed the auction manager.