Neco Insurance to auction its promoter and ordinary right shares from today

ShareSansar June 23:

Neco Insurance Company limited is auctioning its Promoter right shares and ordinary right shares to general public from today (Ashad 8).

According to a notice published by the insurance company today, it will be selling 4,062 units of promoter share and 67,941 units of ordinary right share after the rights shares issued on Falgun 14 were not subscribed fully by the investors.

The auction starts from Ashad 8 and will last till Ashad 14 and the bids will be opened to conclude the auction on Ashad 15.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.

Civil Capital Market is the issue manager for this auction which is located at Kamaladi, Kathmandu.

Also, Neco Insurance company limited have announced they will distribute 1:0.8%  right  share certificates  to their shareholders from today (Ashad 8) at their RTS, Civil Capital Market located at Kamaladi, Kathmandu.

Neco Insurance Company has posted net profit of Rs.42.25 million in its third quarter company analysis of the fiscal year 2071/72.