Nepal Insurance Company to sell 1.61 lakh unit unsold right shares via auction; Auction begins from Ashadh 03

Nepal Insurance Company Limited (NICL) will be auctioning its 1,61,124.10 unit unsold right shares from Ashadh 03, 2075 till Ashadh 10, 2075.

The insurance company will be auctioning 2,177.30 unit promoter right shares and 1,58,946.80 unit ordinary right shares. Only the existing promoters of the company can apply for the right shares of promoters group.

NIBL Ace Capital has been appointed as the issue manager for the right shares auction.

Interested bidders can bid for a minimum 1,000 unit of shares in the promoters group and for 100 unit of shares in the ordinary shareholders group. Minimum bid price for both the group of shares has been set at Rs 100 i.e. the shareholders need to place their bids above Rs 100.

The insurance company has urged the bidders to deposit the total bid amount in the A/C no 0124524617100018 in Kumari Bank Limited in the name of NIBL Ace Capital Limited.

NICL had issued 100% right shares to its shareholders from Baisakh 05, 2075. After the adjustment of 100% right shares its paid up capital will reach Rs 60.39 crore. The company has also proposed 4.52% bonus shares which will take its paid up capital to Rs 61.76 crore.