Citizens Life Insurance opens new branch in Kantipath; to issue IPO worth Rs 75 crore to public
Mon, Dec 11, 2017 9:00 AM on Latest, Featured, Stock Market,
Citizens Life Insurance Company Limited has opened new branch office in Kantipath, Kathmandu. The newly opened branch was jointly inaugurated by Chairman of the company and Mr. Pradip Jung Pandey, Former Chairman of FNCCI.
The company has formally started its operation on Kartik 2, 2074 and has been providing life insurance services from 25 branches to its customers from all over the country. Earlier, the company has appointed ‘Maha Jodi’ as a brand ambassador.
Issuing a press statement published today, it stated that the life insurance company has authorized capital of Rs 3 arba and issued capital of Rs 2.50 arba. Out of Rs 2.50 arba, 70% of Rs 1.75 arba has been separated as issued capital from promoters group. Citizens life Insurance will be floating Initial Public Offering (IPO) worth Rs 75 crore to general public in near future to maintain paid up capital of Rs 2.50 arba.
Issuing a press statement published today, it stated that the life insurance company has authorized capital of Rs 3 arba and issued capital of Rs 2.50 arba. Out of Rs 2.50 arba, 70% of Rs 1.75 arba has been separated as issued capital from promoters group. Citizens life Insurance will be floating Initial Public Offering (IPO) worth Rs 75 crore to general public in near future to maintain paid up capital of Rs 2.50 arba.
