Shikhar Insurance appoints NIBL Capital Markets as issue manager for its upcoming FPO
Thu, Feb 2, 2017 4:46 PM on Latest, IPO/FPO News, Featured, Stock Market,
Shikhar Insurance Co. Ltd. (SICL) has appointed NIBL Capital Markets Limited as the issue manager for its upcoming Further Public Offering (FPO). Issuing a press statement, the insurance company said that the agreement with the capital was signed yesterday.
SICL’s 12th AGM conducted on December 23, 2016 had given the go-ahead to issue FPO shares to maintain public ownership at 40%. SICL is issuing 13,62,781 units FPO shares at a premium price of Rs 1,620 (Rs 1,520 premium added to the par value of Rs 100).
SICL has been able to increase its net profit by 80% in the second quarter of the ongoing fiscal year. It has been providing services through 35 branches around Nepal, and is on process to open 5 new branches-added the statement.
SICL has been able to increase its net profit by 80% in the second quarter of the ongoing fiscal year. It has been providing services through 35 branches around Nepal, and is on process to open 5 new branches-added the statement.
