NMB Capital all set to allot FPO shares of Premier Insurance coming Thursday; 1 out of 3 applicants to get 10 unit shares

NMB Capital Limited is set to conclude the allotment of 6.59 lakh kitta FPO shares of Premier Insurance Company Nepal Limited (PIC) on coming Thursday at the premise of NMB Capital Limited, Naxal, Kathmandu. As per the information provided by Mr. Kamal Nepal, Chief Operation Officer of NMB Capital, the pre-allotment of the shares has already been concluded, which has also been approved by SEBON. Talking with ShareSansar, COO Mr. Nepal informed that the approval for pre-allotment was received yesterday and they would be able to give out the final results of allotment in the first hour of Thursday, Magh 18, 2074. The Further Public Offering (FPO) of Premier Insurance Company Limited (PIC) was positively responded by general investors which had collected around Rs 3.22 arba from 1,83,846 applicants. Premier Insurance Company Limited (PIC) had issued 6,59,565 units shares worth Rs 52.69 crore as part of its Further Public Offering from Poush 16 to Poush 19, 2074. The FPO was issued at Rs 799 per unit (Rs 699 premium added to the par value of Rs 100). Premier Insurance has paid-up capital of Rs 44.85 crore. Its promoter-public shareholding ratio stands at 60:40. After the FPO, its promoter- public shareholding will be restructured to 51:49 and paid-up capital will reach Rs 51.44 crore. It has proposed 13.52% bonus share which will also be awarded to FPO allottee shareholders, after which its paid-up capital will reach Rs 58.41 crore. To meet the capital requirement of Rs 1 arba as per Insurance Board till Ashad 2075, it should further hike its capital by Rs 41.59 crore (around 71.20%). It had earned Rs 2.12 crore in the first quarter of the FY 2074/75.