NLG Insurance Company Limited Auctioning 3,20,533.22 Unclaimed Right Shares From Today
NLG Insurance Company Limited (NLG) is set to auction 29,977.31 units of promoter right shares and 2,90,555.91 units of ordinary right shares remaining from its previous 10:6.256 rights offering. The auction will be open from today, 20th Magh, until 27th Magh, 2081.
A total of 93,10,687 shares have been allotted to valid applicants, while 3,20,533.22 units (3.32%) remained unclaimed by eligible investors.
Of the total right shares issued, 93,10,687 units (96.68%) were successfully subscribed by shareholders, leaving 3.32% of shares unclaimed. These 3,20,533.22 unsold right shares will now be auctioned to the general public starting today.
This auction comprises the unclaimed portion of the rights offering. Previously, the company had issued a 10:6.256 ratio right share offering to its shareholders, open from 11th Mangsir to 16th Poush, 2081.
Both individuals and institutions are eligible to participate in the bidding process.
LS Capital Limited has been appointed as the issue manager for the auction. The minimum bid price is set at Rs. 100 per share. For ordinary right shares, the minimum bid quantity is 100 units, whereas for promoter right shares, it is 1,000 units. While bidders can bid for the entire available quantity, they must comply with regulatory board restrictions on maximum share limits per entity.
