IME General Insurance (IGI) Allots Auctioned Shares to Bidders, Company Refunding Non-Allottees From Tomorrow

IME General Insurance Limited (IGI) has allotted 88,934 units ordinary shares and 2,261 units promoter shares (unsold right shares) to the general public on Jestha 03, 2079. The company is refunding money to non-allottees from 5th Jestha, 2079.

The auction manager had opened the bids received in the auction of the company's unclaimed right shares on Baisakh 28. Global IME Capital was appointed the auction manager for the auction.

The auction had opened on 12th Baisakh and concluded on 21st Baisakh at the end of banking hours. 2,261 units promoter right shares and 88,934 units ordinary right shares were auctioned. This was the quantity unclaimed by eligible shareholders in the rights issue. Individuals, institutions, and companies were all eligible to bid for the auction.

Rs. 100 was the minimum bid rate for the auction. While the minimum bid quantity was 100 units, there was no upper limit for both shares. Although bidders could bid for the entirety of the issue, they were required to abide by Beema Samiti's rule to not exceed the specified quantity of shares per entity.

According to the auction manager, Rs. 465 was the cut-off rate for the ordinary shares. Those who bid at Rs. 465.10 have got the quantity they asked for, and those who bid at Rs. 465 have been allotted proportionately. Meanwhile, Rs. 151 was the cut-off rate for promoter shares. Those who bid at Rs. 151.10 received the quantity requested, while those who bid at Rs. 151 received a proportionate allocation.

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