Surya Life Insurance to auction 20,973 units ordinary shares at Rs 100 & above from Poush 12

Surya Life Insurance Company Limited (SLICL) will be auctioning its ordinary right share to general public from Poush 12, 2073. As per the notice published by the company today, the insurance company will be selling 20,973 units ordinary share after the right shares issued on Shrawan 20, 2073 were not fully subscribed by the investors. The insurance company had offered right shares at the ratio of 4:1. The auction will last till Poush 18, 2073. The bid will open to conclude the auction on Poush 19, 2073 at 1:00 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. Laxmi Capital Market Limited has been assigned as the issue manager for this auction. The company has urged interested bidders to submit their bids till Poush 18 at Laxmi Capital Market Limited located at New Baneswor, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 00534010177 of Laxmi Bank Limited. Its last traded price stood at Rs 735 as on December 11, 2016. Surya Life Insurance has earned net profit of Rs 1.25 crore in the first quarter of the fiscal year 2073/74 as per unaudited report.