NLICL to auction 68,707 unit ordinary shares; must quote over Rs 1,750

ShareSansar, June 25:

National Life Insurance Company Limited has invited bids to auction 68,707 units of unclaimed right shares.

Issuing a notice today, one of the leading life insurers has urged the interested bidders to submit their bids by 5:00 PM on July 3 at the central office of Citizen Investment Trust, which it managing the issue.

As the minimum price set for the auction is Rs 1750, the bidders have to quote more than that amount for the auction.  

The auction provides a good chance for the investors to clinch the ordinary shares of the insurance company as its last traded price stood at Rs 2,100 yesterday.

They must also bid for at least 100 units of the ordinary shares.  

The total bid amount must be deposited in advance.

The bids will be opened to complete the auction on July 4.

National Insurance is auctioning the unclaimed ordinary right shares which were issued almost seven years back.