NB Insurance to auction 43,437 unit shares at Rs 100 & above from Ashwin 28; LTP stood Rs 110

NB Insurance Company Limited (NBIL) will be auctioning its ordinary and promoter right share to the general public from Ashwin 28, 2073. As per the notice published by the insurance company today, the company will be selling 41,837 units of ordinary share and 1600 unit promoter share after the rights shares issued on Shrawan 23, 2073 were not fully subscribed by the investors. The insurance company had offered right shares at the ratio of 10:8. The auction will last till Kartik 5, 2073. The bid will open to conclude the auction on Kartik 8, 2073 at 3:30 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. There is no limit in buying shares at maximum. Global IME Capital Limited has been assigned as the issue manager for this auction. The insurance company has urged interested bidders to submit their bids by 3:00 PM till Kartik 5, 2073 at the Global IME Capital Limited located at Rastriya Nach Ghar, Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 0010000426CC of Citizens Bank Intyernational Limited head office located at Kamaladi, Kathmandu. Its last traded price stood at Rs 110 as on September 25, 2016. NB Insurance has earned net profit of Rs 4.36 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. The company has been providing services from 14 branch office, 5 contact offices and 11 service counters.