Premier Insurance closing the auction of 50,000 units promoter shares of CIT from today; company will earn Rs 12 crore
Premier Insurance Company (PIC) closing the bids for promoter shares of Citizen Investment Trust (CIT) from today (Jestha 21, 2076). PIC is auctioning 50,000 promoter shares of CIT that is under its holding as an institutional investor.
The company has invited all the interested banks and financial institutions (BFIs) and Insurance companies to bid for the auctioned shares. The minimum bid is set at Rs 2,500 per shares, so any bid to be placed should be equal to or above Rs 2,500.
Global IME Capital will be managing the auction.
The bid applications was opened from Jestha 01, 2076. The forms can be submitted in the following locations:
- Global IME Capital, Rastriya Nachghar, Jamal, Kathmandu
- Premier Insurance Company, Narayanchaur, Naxal, Kathmandu
- Branches of Global IME Bank
- Birtamod
- Janakpur
- Biratnagar
- Hetauda
- Narayangad
- Pokhara
- Butwal-Milanchowk
- Birjung
- Baglung
- Dang (Ghorahi)
- Nepajung - Tribhuvan Chowk
- Surkhet
- Dhangadi
- Mahendranagar
The applicants can apply for a minimum of 100 units and a maximum of 50,000 units. The applied units should be divisible by 10. The sealed envelope should be labeled "Nagarik Lagani Kosh's promoter shares purchase application". The application should also include a Good for payment Cheque/manager's cheque in the name o0f Global IME Capital with the amount equivalent to the applied amount.
The bidders who get the shares will be eligible for the upcoming bonus shares and cash dividends. The premier insurance will earn Rs 12 crore from this auction.
