Nepal Insurance Company Limited has completed the allocation of remaining rights shares via a sealed-bid auction, with founder and public groups receiving shares at their cutoff prices.
Rights Share Auction and Allocation
Nepal Insurance Company Limited has issued and distributed its remaining rights shares through an auction. Earlier, the company had offered rights shares to existing shareholders from Sawan 6 to Bhadra 2, based on holdings as of Jestha 29, 2082.
After this period, 4,468.76 shares remained for the founder group, and 192,574 shares remained for the public group. To sell these remaining shares, the company conducted a sealed-bid auction from Bhadra 27 to Ashoj 8, 2082. The bids were opened on Ashoj 9, and the allocation process was completed by Ashoj 22.
The cutoff price for allocated shares was NPR 126 for the founder group and NPR 503.43 for the public group. Investors who did not receive shares in the allocation are having their amounts refunded starting Ashoj 23, 2082.
The rights share issuance and auction management was handled by NIMBI S Capital Limited.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
