Promoter Shares of National Life Insurance Company and Shine Resunga Development Bank in Auction From Today
Prudential Capital Management Company Pvt. Ltd. is selling the promoter shares of National Life Insurance Company Limited (NLICL) and Shine Resunga Development Bank Limited (SHINE) via auction from today i.e. 6th Magh till 13th Magh, 2079.
2,01,820 unit promoter shares of NLICL and 1,50,000 unit promoter shares of SHINE are being auctioned. The minimum bid rate for the auction of NLICL is Rs. 350 and that of SHINE is Rs. 150. While the minimum bid quantity for NLICL and SHINE's shares is 5,000 units and 2,000 units respectively, there is no upper limit for both shares. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Insurance Authority's rule to not exceed the specified quantity of shares per entity.
NIC Asia Capital Limited has been appointed as the auction manager. As of writing, NLICL has an LTP of Rs. 643 whereas SHINE closed at Rs. 354.90 yesterday.
