Life Insurance Corporation Nepal Closing Auction of 4,92,577 Unclaimed Right Shares from Today

Life Insurance Corporation Nepal Limited (LICN) is closing the auction of 4,92,577 units of unclaimed right shares to the general public from today i.e. on the 5th Falgun, 2081. The auction opened on the 21st Magh.

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 are auctioned to the general public and will close today.

This is the unclaimed portion of the rights offering. From 12th Mangsir to 17th Poush, 2081, the company issued a right share issue in a 1:0.8845168 ratio to its shareholders.

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 Rs. 100, and the minimum bid quantity for ordinary rights shares is 100 units. 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.