NLG Insurance Company Limited Auctioning 3,20,533.22 Unclaimed Right Shares from Magh 20

NLG Insurance Company Limited (NLG) is set to auction 29,977.31 units of promoter right shares and 2,90,555.91 units of shares from its previous 10:6.256 rights offering. The auction will open from 20th Magh to 27th Magh, 2081.

A total of 93,10,687 shares have been allotted to the valid applicants. Thus, 3,20,533.22 (3.32%) shares were unclaimed by eligible investors. This remaining quantity of shares will be auctioned soon to the general public and institutions.

Of the total right shares issued only 93,10,687 (96.68%) units were allotted to eligible shareholders. 3.32% of shares were unclaimed by eligible investors. Thus, the same 3,20,533.22 units of unsold right shares will now be auctioned to the general public from the 20th Magh.

This is the unclaimed portion of the rights offering. The company had issued a 10:6.256 ratio right share issue to its shareholders from 11th Mangsir to 16th Poush, 2081.

Individuals and institutions are all eligible to bid for the auction.

LS Capital Limited has been appointed as the issue manager of this right share. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units, while for promoter right shares, it 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.

Auction Notice: