Nepal Reinsurance Company IPO Closing On Chaitra 7
March 20, 2020 | Investopaper
Nepal Reinsurance Company Limited is closing the IPO issue from today i.e. Chaitra 7, 2076. Due to the oversubscription of shares, the issue will remain open until the close of banking hours today.
The IPO was open from Chaitra 4, 2076.
You May Also Like: How To Apply IPO/FPO/Right Share Through Mero Share?
The reinsurance company had received approval from the Securities Board of Nepal (SEBON) to issue the Initial Public Offering (IPO) on Falgun 4, 2076.
The company is floating 1.60 crores units shares in the IPO at a par value of Rs. 100. Through the sale of IPO, Nepal Reinsurance company plans to collect Rs. 1.60 Arba in the capital.
Out of the total IPO, employees will receive 73,500 shares. Likewise, Mutual funds are allocated 8 lakh units share. Hence, the general public can participate in the remaining 1,51,26,500 shares.
Related: Upcoming Initial Public Offerings (IPO) In Nepal
The total issued capital of the company is Rs. 10 Arba. After the IPO, the general public will possess 16 percent of the company’s stock.
ICRA Nepal Limited has given IPO Grade 2 for the IPO issue of Nepal Reinsurance. This rating indicates that the fundamentals of the company are above average.
Interest investors can apply for a minimum of 10 units and a maximum of 10,000 units.
RBB Merchant Banking Limited is the issue manager for the IPO of Nepal Reinsurance Company.
Nepal Reinsurance Company is the only reinsurance company in Nepal. It was established under the leadership of the government. The insurance companies in Nepal also are the promoters of the company. Nepal Re formally came into operation from December 22, 2014.
Read Related Contents:
How To View IPO Result In Meroshare?
Share This Via:
