Citizen Life Insurance Company Limited Announces Conclusion of Lock-in Period for Promoters and Employee Shares on Bhadra 27

Citizen Life Insurance Company Limited (CLI) published a notice regarding the expiration of the lock-in period for its promoters' and employees' shares, which will expire on 27th Bhadra, 2083.

According to the recent guidelines issued by the Securities Board of Nepal (SEBON), Citizen Life Insurance Company Limited (CLI) has officially notified its investors and stakeholders that the lock-in period for the shares held by its promoters and employees has concluded. On Bhadra  27th, 2083, the lock-in period will end.

CLI now has 50,000,000 units of shares listed on the Nepal Stock Exchange (NEPSE). Of these, the promoters held 35,000,001 units, and the company's employees held 7,50,000 units. These shares have been subject to a lock-in period since the IPO allotment three years ago.

As outlined in the official notice, the shares held by the Board of Directors and employees at higher management will not be tradable after the lock-in period.

CLI closed at Rs. 437.20.