Star Micro Insurance to Float IPO | Appoints NIMB Ace Capital as Issue Manager
August 28, 2024 | Investopaper
Star Micro Insurance Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed NIMB Ace Capital Limited as the issue and sales manager.
The agreement was signed by Mr. Sibanta Bahadur Pande, Chief Executive Officer of NIMB Ace Capital and Mr. Bishwa Ram Timila, Chief Executive Officer of Star Micro Insurance Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the company can issue the shares to the public.
The company plans to sell 22.50 lakh unit shares at the par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 22.50 crores.
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