Company prepares for IPO issuance with SEBON application filed in Ashoj.
Protective Micro Insurance Limited has published its unaudited financial report for the fourth quarter of fiscal year 2081/82. According to the report, the company earned a net profit of NPR 12.75 lakh, marking a 79.57% increase compared to NPR 7.10 lakh in the same period of the previous year.
During the review period, the company’s net insurance premium surged to NPR 5.67 crore, a staggering 1,098% rise from NPR 47.30 lakh recorded in the previous year. Meanwhile, reinsurance expenses increased significantly, reaching NPR 13.01 crore, up from NPR 2.31 crore in the corresponding period last year.
The company’s paid-up capital currently stands at NPR 52.50 crore. In terms of reserves and equity, the company has maintained NPR 23.19 lakh in special reserve, NPR 2.31 lakh in catastrophe fund, NPR 5.33 lakh as retained earnings, and NPR 15.91 lakh in other equity components.
In line with its expansion strategy, Protective Micro Insurance submitted an application to the Securities Board of Nepal (SEBON) on Ashoj 20, 2081, seeking approval to issue an Initial Public Offering (IPO). Upon receiving approval, the company plans to issue 22.50 lakh units of ordinary shares to the public.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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