Premier Insurance to float 6.59 lakh units FPO shares at Rs 799/unit from today; LTP stood at Rs 1,386

Premier Insurance Company Limited (PIC) is issuing 6,59,565 units shares worth Rs  52.69 crore as part of its Further Public Offering (FPO) from today (Poush 16, 2074). The FPO will be issued at Rs 799 per unit (Rs 699 premium added to the par value of Rs 100). The FPO applications will close on Poush 19, 2074. The maximum closing date for the offer is Magh 15, 2074. Interested people must apply for a minimum of 10 units of shares and they can apply for up to 3,290 units shares. NMB Capital Limited is the issue manager for the FPO. Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074. Premier Insurance has a paid up capital of Rs 44.85. Its promoter-public shareholding ratio stands at 60:40. The company is floating FPO shares to make its promoter- public holdings at 51:49. Its paid up will reach Rs 51.44 crore after FPO shares. To meet the capital requirement of Rs 1 arba as per Insurance Board till Ashad 2075, it should further hike its capital by Rs 48.56 crore (94.40%). It had earned Rs 2.12 crore in the first quarter of the FY 2074/75. Its LTP stands at Rs 1,386 as of last trading day. See the list of ASBA member BFIs Click here to see offer letter