Nepal Life Insurance Auctioning 500,000 Units Promoter Shares of NIC Asia Bank (NICA)
Nepal Life Insurance Company Limited (NLIC) one of the promoter shareholder of Nic Asia Bank Limited (NICA) is auctioning the promoter shares of the bank.
5,00,000 units promoter share will be auctioned. Only existing shareholders of the bank are eligible to bid in an auction. Rs. 475 is the minimum bid rate for the auction. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity. If no bids is received from any of the shareholders within specified date, the company will auction the same shares to the general public.
The investors who are willing to bid for the auction should submit their bids within 35 days from the date of publication of the notice i.e Jestha 25. As of writing, NICA has an LTP of Rs. 708.90.
