Promoter Shares of Nepal Reinsurance Company and Citizen Investment Trust in Auction From Today
Siddhartha Premier Insurance Limited (SPIL) is selling the promoter shares of Nepal Reinsurance Company Limited (NRIC) and Citizen Investment Trust (CIT) in the auction from today i.e. 18th Falgun to 22nd Chaitra, 2080.
20,73,446 unit promoter shares of NRIC and 2,39,037 unit promoter shares of CIT are being auctioned. Individual investors, companies, and institutions are eligible to bid in the auction of NRIC whereas Interested promoter shareholders and qualified investors are eligible to bid in the auction of CIT. Rs. 280 is the minimum bid rate for NRIC's auction whereas Rs. 780 is the minimum bid rate for CIT's auction. The minimum bid quantity for promoters’ shares of NRIC is 20,73,446 units while that of CIT is 15,000 units. Although bidders can bid for the entirety of the issue, they are required to abide by the Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
NMB Capital is the auction manager. As of writing, NRIC and CIT have an LTP of Rs. 732.00 and Rs. 2,076.00 respectively.
