NLIC and NICA Re-Auctioning 5,96,921 and 7,19,950 Promoter Shares Respectively; Auction Open From Today
Nepal Life Insurance Company Limited (NLIC) and NIC Asia Bank Limited (NICA) are re-auctioning 5,96,921 units and 7,19,950 unit promoter shares respectively. The auction will open from today i.e 20th Ashad and close on 27th Ashad, 2079.
The company had recently issued the 5,97,921 promoter shares of NLIC and 7,19,950 promoter shares of NICA from 8th Ashad to 16th Ashad, 2079. Since only 1000 units of NLIC were sold and no bids were received for NICA shares, therefore the company is re-auctioning the same shares from today.
Existing promoters, individual investors, companies, and institutions are all eligible to bid for an auction. While the minimum bid quantity is 1000 units for the auction of both the shares, there is no upper limit. However, bidders are required to abide by Nepal Rastra Bank and Beema Samiti's rule to not exceed the specified quantity of shares per entity.
Rs. 700 is the minimum bid rate for the auction of promoter shares of NLIC whereas minimum bid rate for NICA's auction is Rs. 425. Global IME Capital is appointed as the auction manager for both the auction.
