Nepal Reinsurance Company IPO allotment concludes; Valid applicants receive a minimum 40 shares

April 8, 2020 | Investopaper

Nepal Reinsurance Company has allotted the IPO shares today (April 8, 2020). The issue manager RBB Merchant Banking Limited announced the allotment.

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As per the allotment module, 77,245 investors have received 50 shares each while those applying for less than 40 shares have been fully allotted the shares. A total of 3,91,626 investors applied for the shares of Nepal Reinsurance Company out of which 988 applications were cancelled.

Out of the 3,90,893 valid applicants, 76,900 applicants who applied for 40 or less shares have been allotted the full applied shares. Likewise, 3,13,648 investors applied for 40 or more shares. 77,245 applicants (through lottery) have received 50 shares while the remaining others are allotted 40 units of shares.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

Nepal Reinsurance Company had opened the IPO issue from Chaitra 4 to Chaitra 7, 2076. The company floated 1.60 crores units shares in the IPO at a par value of Rs. 100.

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