Citizen Life Insurance Set to Conclude Lock-in Period for 434,906 Mutual Fund Shares by Falgun 27

Citizen Life Insurance Company (CLI) has published a notice to its investors and stakeholders of the imminent conclusion of the lock-in period for 434,906 unit shares held by Mutual Funds. Following the latest directives from the Securities Board of Nepal (SEBON), this lock-in period, which commenced on Kartik 20, 2080, is set to expire by the 27th of Falgun, 2080.

CLI, previously issued 30 percent of its issued capital i.e. Rs. 3.75 Arba, to the general public. Within this allocation, 5 percent was earmarked exclusively for Mutual Funds, representing 562,500 units of shares.

Notably, in adherence to SEBON's directives issued on Kartik 20, 2080, a substantial portion of these shares, 434,906 units, were subject to a lock-in period. Investors and stakeholders are now informed that the lock-in period for these 434,906 unit shares is poised to conclude by the 27th of Falgun, 2080.

Notice