Neco Insurance to auction its unsold 99,949.11 unit right shares from today; Only existing promoters can apply for 4,063.87 unit promoter shares

Neco Insurance Limited (NIL) is going to auction 99,949.11 units unclaimed right shares from today (Baisakh 19) till Baisakh 26, 2075.

The minimum bid price for both promoters and ordinary shares have been set as Rs 100 i.e. the interested bidders need to place their bids above Rs 100.

Interested bidders can apply for minimum 100 units of the auctioned shares. However, only the existing promoters of the insurance company are eligible to apply for the 4,063.87 unit promoters shares.

NMB Capital has been appointed as the issue manager for the auction. The bidders can collect their applications from NMB Capital.

The insurance company has urged the bidders to place their bid amount in account number 00100600054010000207 in NMB Bank Limited in the name of NMBCL-Right Neco 074/75.

The company had floated 50% right shares worth Rs 39.20 crore from Magh 26 till Chaitra 01.

After the adjustment of 50% right shares, the paid-up capital of the company will stand at Rs 1.17 arba.