Nepal Life Insurance to issue 30,96,429 units FPO shares worth Rs 4.41 arba at Rs 1,425/unit from Poush 27; Applicants can apply up to 30,960 units

Nepal Life Insurance Company Limited (NLIC) will be issuing 30, 96,429 units shares worth Rs 4.41 arba as a part of Further Public Offering (FPO) from Poush 27, 2073. The FPO is being issued at Rs 1425/unit. The FPO applications will close on Magh 2, 2073. The maximum closing date for the offer is Magh 12, 2073. Interested people must apply for a minimum of 10 units of share and they can apply for up to 30,960 units of share. Siddhartha Capital Limited has been appointed as the issue manager for the FPO. As per an official of Siddhartha Capital Limited, investors cannot apply for this FPO under the ASBA system. Earlier, NLIC 224th Board of Director meeting held on Jestha 26, 2073 had decided the price of Further Public Offering (FPO). The company had announced to float 30.96 shares at Rs 2,951 each. SEBON, on Jestha 28 2073, had temporarily banned trading of Nepal Life’s shares on Nepal Stock Exchange (Nepse) after the company made its FPO plan public without obtaining the regulator’s permission. The insurance company has a paid up capital of Rs 2.16 arba. After the issuance of the FPO, its paid up capital will reach to Rs 2.47 arba. Reserve will grow by Rs. 4.1 arba. Nepal Life Insurance had earned Rs 5.89 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report. Collection centers details: