Crest Micro Life Insurance To Issue IPO; NIMB Ace Capital Limited Appointed as Issue and Sales Manager

Crest Micro Life Insurance Limited has launched an initial public offering (IPO) of 2,250,000 ordinary shares, each priced at Rs. 100, which will be publicly available from the 18th of Baishakh, 2081. NIMB Ace Capital Limited has been appointed to manage the securities issuance and sale.

Crest Micro Life Insurance, which provides short life insurance targeted at low-income and marginalized communities, recently obtained its operating license from the Nepal Insurance Authority.

Established as a public limited company, it initially had 70% of its shares held by promoter shareholders. Following a planned public issuance, the share held by ordinary investors will rise to 30%.

The IPO agreement was signed by Crest Micro Life Insurance CEO Mr. Pratapman Shrestha and the issuer and sales manager, CEO Mr. Shivanth Bahadur Pande.