Last opportunities to grab United Insurance shares below market price; auction closes from today; LTP stands at Rs 213

Tue, Dec 3, 2019 9:15 AM on Auction, Latest,

United Insurance Company (Nepal) Limited (UIC) is closing the auction of 4,99,192.6 unit shares from today (Mangsir 17, 2076). Out of which 1,57,649.60 units promoter share and 3,41,543 units ordinary share are on auction since Mangsir 10, 2076.

The company had issued 240% (1:2.4) right shares for its shareholders from Bhadra 03, 2076 to Ashoj 23, 2076.

NMB Capital Limited has been appointed as the issue manager for the right issue.

The minimum bid price has been set at Rs 100. Similarly, applicants cal apply for a minimum of 100 units and a maximum of 1,57,469.60 units for promoter shares and 3,41,543 units for ordinary shares.

The last trading price (ordinary share) of UIC is Rs 213 traded on December 2.

The applicant can either attach good for payment cheque or deposit voucher with the bid form. The amount can be deposited at following account:

Bank: NMB Bank
Account name: NMBCL-RIGHT UICNL 2075/76
Account number: 0010005401002563

The applications can be submitted at the following branches of NMB Bank:

The existing paid-up capital of the company is Rs 30.24 crore and after the 240% right shares issue and auction, the paid-up capital will rises to Rs 102.81 crore.

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