Bids opened for auction of Neco Insurance Company Limited's promoter shares; Cut-off price at Rs. 395.25

The auction of Neco Insurance Company Limited's 10,70,206.84 units promoter shares has successfully completed. Bids have already been opened and the shares have been allotted.

The minimum bid rate was set at Rs. 395 and the minimum bid quantity was 5,000 units. Based on the bid opening, the cutoff price is set at Rs. 395.25. All the bidders bidding at rates higher than that will get the shares. Meanwhile, the company is refunding money to non-allottee investors from today, i.e. 18th Kartik, 2077.

As of writing, Neco Insurance's ordinary shares have a LTP of Rs. 814 per share.

Announcement