NLG Insurance Company Limited Closing Auction of 3,20,533.22 Unclaimed Right Shares from Today

NLG Insurance Company Limited (NLG) is closing the auction of 29,977.31 units of promoter right shares and 2,90,555.91 units of ordinary right shares to the general public from today i.e. on the 20th Magh, 2081. The auction opened on the 20th Magh.

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 are auctioned to the general public and will close today.

This auction comprises the unclaimed portion of the rights offering. Previously, the company issued a 10:6.256 ratio right share offering to its shareholders, which was 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.