Last day to bid for the auction of 56,344 units of Nepal Insurance Company
Tue, Feb 24, 2015 12:00 AM
ShareSansar, February 24
Nepal Insurance Company limited (NICL) had opened 13.19 lakhs units rights shares for its existing shareholders from 1st Jestha to 4th Ashad, 2071.
Among the total floated shares, 56,344 units unclaimed by the shareholders were opened for auction from 3rd of Fagun for the general public.
The auction closes till today’s office time and the bids will be opened to conclude the auction on Falgun 14 that is day after tomorrow.
Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. It may also be noted that bidders must also bid for a minimum of 100 units of shares.
Growmore Merchant Banker Limited is the issue manager for this auction.
The last traded price of NICL stood at Rs 393 per share at yesterday’s market closing time.
NICL had posted Rs 23.21 million net profit as on the 2nd quarter of the current fiscal year 2071/72.
It is a nice opportunity for investors to bid for this auction at Rs 300-340 price range, said an avid share investor Mr. Jeevan Shrestha to ShareSansar today.
