The lock-in period for over 3 crore shares of Reliable Nepal Life Insurance Limited is set to conclude on Saun 30.
Reliable Nepal Life Insurance Limited’s 3 crore 71 lakh 57 thousand 120 shares are about to have their lock-in period come to an end on the upcoming Saun 30. The company issued a notice, informing that the lock-in period will finish from that specific date.
Out of these shares, 3 crore 63 lakh 77 thousand 600 shares belong to the promoter group, while 7 lakh 79 thousand 520 shares are for the company’s employees. The company also clarified that this total number include bonus shares distributed to these groups.
According to the current rules, when any company issues an Initial Public Offering (IPO) to the general public, the shares of its founders (promoters) and employees must be kept in a lock-in period. This lock-in typically lasts for three years, calculated from the date of the IPO allotment. This regulation is why the lock-in period for these Reliable Nepal Life shares is now nearing its end.
However, the company has specified that shares held by its directors and those employees in high managerial positions will remain restricted. This is in accordance with the prevailing regulations that applies to such individuals.
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.
