Life Insurance Corporation to auction its promoter shareholding in Citizen Investment Trust from today

Mon, Dec 9, 2019 1:14 PM on Auction, Latest, NEPSE News,
Life Insur...

Life Insurance Corporation Nepal Limited (LICN) has published a notice regarding the re-auction of promoter shares of Citizens Investment Trust (CIT) held by the company.

The life-insurance company will be selling 50,000 units of promoter shares of CIT through the process of auction. Bids for the same will be accepted from Mangsir 23, 2076 i.e. today to Poush 7, 2076. Nepal SBI Merchant Bank has been appointed as the issue manager for the same.

Interested applicants can apply for minimum 100 units and maximum 50,000 units. The minimum bid amount for the auction has been set at Rs.1495 per share. Bids placed below the bid amount will be deemed invalid. Only BFIs and Insurance companies can bid for the auction.

The application forms can be obtained from and submitted at Nepal SBI Merchant Bank (Hattisar), central office of LICN (Putalisadak) and out-station branches of Nepal SBI Bank for Rs.100 per form.