Premier Insurance 6.59 lakh units FPO shares in SEBON pipeline

Premier Insurance Co. Ltd. (PIC) has been added in SEBON pipeline to seek approval for issuing 659,565 units FPO shares. As per the notice published in NEPSE yesterday, PIC is going to float FPO shares at a price of Rs 1,004 per unit (Rs. 904 premium added to the par value of Rs 100). NMB Capital has been appointed as the issue manager. PIC has a paid up capital of Rs 44.85 after 20% bonus share. Its promoter-public shareholding ratio stands at 60:40. After the FPO, the promoter-public shareholding structure will be 51.94:48.06. Its paid up will reach Rs 51.8 crore and reserve will grow by Rs 62.87 crore. Its last traded price stood at Rs 1,285 as of today (January 26, 2017).