Huge Promoter Shares of NLIC and NICA In Auction from Ashad 08
Nepal Life Insurance Company Limited (NLIC) and NIC Asia Bank Limited (NICA) are auctioning 5,97,921 units and 7,19,950 unit promoter shares respectively. The auction will open from 8th Ashad and close on 16th Ashad, 2079.
Existing promoters, individual investors, companies, and institutions are all eligible to bid for an auction. While the minimum bid quantity is 1000 units for the auction of both the shares, there is no upper limit. However, bidders are required to abide by Nepal Rastra Bank and Beema Samiti's rule to not exceed the specified quantity of shares per entity.
Rs. 700 is the minimum bid rate for the auction of promoter shares of NLIC whereas minimum bid rate for NICA's auction is Rs. 400. Global IME Capital has been appointed as the auction manager for both the auction.
