Nepal Micro Insurance Opening 2,25,000 Units IPO Shares to Foreign Nepalese Immigrants From Today

Nepal Micro Insurance Company Limited is opening the IPO issue for Foreign Nepalese Immigrants from today i.e. on the 8th of Magh till the 22nd Magh, 2081. Note that the issue will not be extended from the early closing date for Foreign Nepalese Immigrants.

The company's issued capital is Rs. 75 Crores of which 30% i.e. 22,50,000 unit shares worth Rs. 22.50 Crores will be issued later for the general public. Of this public issue, 10% of the shares totaling 2,25,000 units shares have been allocated for Nepalese citizens working abroad, the issue of which will open today.

Out of the total 22,50,000 units, 1,12,500 (i.e. 5% of 22,50,000) have been set aside for mutual funds and 67,500 (i.e. 3% of 13,75,000) units have been set aside for the company's employees. The remaining 18,45,000 units are for the general public.

NIMB Ace Capital has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 1,00,000 units.

CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB- (Is)’ to Nepal Micro Insurance Company Limited. This rating indicates a moderate risk of default in meeting financial obligations on time within Nepal.

Notice: