KATHMANDU: The initial public offering (IPO) of Union Life Insurance Company has been allotted on Thursday.
According to Sales Manager, the Prabhu Capital, the results of the company’s IPO can be viewed from four websites: the website of CDS & Clearing Limited, Mero Share’s mobile app, Union Life Insurance’s website and sales manager Prabhu Capital’s website.
A total of 2,182,775 people had applied for the primary shares issued from July 8 to 12. Out of which only 2.127 have qualified for being included in the distribution. In other words, out of the total applicant 69,976 have been rejected for failing to meet the criteria.
Out of 6.45 million shares on behalf of the general public group, 5 percent or 322,500 shares have been distributed to staffs and the equal numbers have been distributed to the mutual fund.
The general public will be able to get the remaining 5.8 million lots. Out of the 2,112,799 eligible applications, the lucky 558,500 have been able to get 10 shares each. The remaining 1,527,799 people have been sans shares this time.
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