Reliable Nepal Life Insurance Set to Conclude Lock-in Period for 3,11,141 Mutual Fund Shares by End of Magh
Thu, Jan 11, 2024 10:53 AM on Latest,
Reliable Nepal Life Insurance Limited (RNLI) has published a notice to its investors and stakeholders of the imminent conclusion of the lock-in period for 3,11,141 unit shares held by Mutual Funds. Following the latest directives from the Securities Board of Nepal (SEBON), this lock-in period, which commenced on Mangsir 25, 2080, is set to expire by the conclusion of Magh 2080.
RNLI, previously issued 30 percent of its issued capital i.e. Rs. 4 Arba, to the general public. Within this allocation, 5 percent was earmarked exclusively for Mutual Funds, representing 6,00,000 units of shares. Notably, in adherence to SEBON's directives issued on Mangsir 25, 2080, a substantial portion of these shares, 3,11,141 units, were subject to a lock-in period. Investors and stakeholders are now informed that the lock-in period for these 3,11,141 unit shares is poised to conclude by the end of Magh.
