United Insurance to auction 4.99 lakh unit shares from Mangsir 10, 2076; 1.57 lakh units promoter and 3.41 lakh ordinary shares available for bidding

United Insurance Company (Nepal) Limited (UIC) had issued 240% (1:2.4) right shares for its shareholders from Bhadra 03, 2076 to Ashoj 23, 2076.

The company has published a notice today regarding the auction of the unsold right shares. A total of 72,57,600 units shares had been floated out of which 1,57,649.60 units promoter share and 3,41,543 units ordinary share were unsubscribed. The auction will be open from Mangsir 10, 2076 to Mangsir 17, 2076.

NMB Capital Limited has been appointed as the issue manager for the right issue.

The minimum bid price has been set at Rs 100. Similarly, applicants cal apply for a minimum of 100 units and a maximum of 1,57,469.60 units for promoter shares and 3,41,543 units for ordinary shares.

The applicant can either attach good for payment cheque or deposit voucher with the bid form. The amount can be deposited at following account:

Bank: NMB Bank
Account name: NMBCL-RIGHT UICNL 2075/76
Account number: 0010005401002563

The applications can be submitted either at Shine Resunga Development Bank or following branches of NMB Bank:

The existing paid-up capital of the company is Rs 30.24 crore and after the 240% right shares issue, the paid-up capital will rises to Rs 102.81 crore.

Announcement