Neco Insurance Limited Auctioning 2,25,261.35 Unclaimed Right Shares from Baishakh 12
Fri, Apr 18, 2025 11:51 AM on Latest, Dividend, Bonus & Rights, Auction,
Neco Insurance Limited (NIL) is set to auction 2,25,261.35 units of unclaimed rights shares from its previous 1:0.25 rights offering. The auction will open from 12th Baishakh to 21st Baishakh, 2082..
A total of 50,30,901.55 shares have been allotted to the valid applicants. Thus, 2,25,261.35 (4.47%) shares were unclaimed by eligible investors.
Of the total right shares issued, only 48,05,640.2 (95.53%) units were allotted to eligible shareholders. 4.47% of shares were unclaimed by eligible investors. Thus, the same 17,98,656 units of unsold right shares will now be auctioned to the general public from the 12th Baishakh, 2082.
This is the unclaimed portion of the rights offering. The company had issued a 1:0.25 ratio right share issue to its shareholders from 8th Falgun to 14th Chaitra, 2081.
Individuals and institutions are all eligible to bid for the auction.
Sanima Capital Limited has been appointed as the issue manager of this rights issue. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units, and for promoter right shares, the minimum bid quantity is 1,000 units. Although bidders are allowed to bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.
