United Ajod Insurance Limited has finished the allotment of its undistributed right shares and initiated the refund process for unallotted applications.
United Ajod Insurance Limited recently completed the allotment of its undistributed right shares. Along with this, the company have also started the process to refund money to those applicants whose bids were not successful.
Initial Offering to Promoter Shareholders
According to the company, 63,847 units of undistributed right shares from the promoter group was initially offered. This offer was made to existing promoter shareholders, inviting them to apply through an auction process from Jestha 29 to Ashar 8. However, the company did not receive any applications during this first phase.
Second Phase: Open to All
Following the lack of applications in the first phase, the Board of Directors decided to open these shares for public sale. The shares were offered to other individuals, institutions, and anyone interested through sealed bids. This second application window was open from Ashar 25 to Saun 1.
The company informed that the sealed bids received during this period were opened and verified on Saun 7. Subsequently, the share allotment process was successfully completed on Saun 12.
Refund Process and Cutoff Price
For applicants who did not receive any shares in the allotment, the company stated that their money will be refunded. The refund will be processed via IPS (Interbank Payment System) and sent to the bank accounts specified in their application forms.
United Ajod Insurance also announced to distributing that the final cutoff price for the allotment was set at Rs 112.60 per unit. Applicants who submitted bids at this price received a proportional allotment of shares, determined based on relative weight.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
