IME General Insurance (IGI) Auctioning Unclaimed Right Shares
IME General Insurance Limited (IGI) is auctioning the ordinary and promoter shares of its company. The auction will open on Baisakh 12 and close on Baisakh 20, 2079.
The 10: 4 ratio rights offering of the company opened on Falgun 22 and closed on Chaitra 13, 2078. 46,30,344 units were issued to eligible shareholders at a par value of Rs. 100 per share. Global IME Capital was appointed the issue manager. According to the issue manager, 13,689 applicants applied for a total of 45,39,149 shares. The remaining 91,195 shares are now being auctioned.
2,261 units promoter shares and 88,534 units ordinary shares of IGI are being auctioned. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for shares is 100 units, there is no upper limit for both shares. Although bidders can bid for the entirety of the issue, they are required to abide by Beema Samiti's rule to not exceed the specified quantity of shares per entity.
Global IME Capital has been appointed the auction manager.
