Life Insurance Corporation Limited Auctioning 4,92,577 Unclaimed Right Shares from Magh 21
Mon, Jan 27, 2025 11:30 AM on Latest, Dividend, Bonus & Rights, Auction,
Life Insurance Corporation Nepal Limited (LICN) is set to auction 4,92,577 units of ordinary rights shares from its previous 1:0.8845168 rights offering. The auction will open from 21st Magh to 5th Falgun, 2081.
A total of 2,29,75,423 shares have been allotted to the 11,468 valid applicants. Thus, 4,92,577 (2.09%) shares were unclaimed by eligible investors.
Of the total right shares issued only 2,29,75,423 (97.91%) units were allotted to eligible shareholders. 2.09% of shares were unclaimed by eligible investors. Thus, the same 4,92,577 units of unsold right shares will now be auctioned to the general public from the 21st Magh.
This is the unclaimed portion of the rights offering. The company had issued a 1:0.8845168 ratio right share issue to its shareholders from 12th Mangsir to 17th Poush, 2081.
Individuals and institutions are all eligible to bid for the auction.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager of this right share. The minimum bid rate is set at Rs. 100, with a minimum bid quantity of 100 units for ordinary rights shares. While bidders may bid for the entire issue, they must comply with regulatory board guidelines, which impose limits on the maximum share quantity allowed per entity.
