Life Insurance Corporation Nepal auctions promoter shares of Citizen Investment Trust from today; 50 thousand units up for grabs

Life Insurance Corporation Nepal Limited (LICN) has published a notice regarding the auction of promoter shares of Citizens Investment Trust (CIT) held by the company.

The life-insurance company will be selling 50,000 units of promoter shares of CIT through the process of auction. Bids for the same will be accepted from Ashwin 28, 2076 i.e. today to Kartik 18, 2076. Nepal SBI Merchant Bank has been appointed as the issue manager for the same.

Interested applicants can apply for minimum 100 units and maximum 50,000 units. The minimum bid amount for the auction has been set at Rs.1595 per share. Bids placed below the bid amount will be deemed invalid.

The application forms can be obtained from and submitted at Nepal SBI Merchant Bank (Hattisar), central office of LICN (Putalisadak) and out-station branches of Nepal SBI Bank for Rs.100 per form.