KATHMANDU: Himalayan Reinsurance Limited is set to issue 2,49,00,000 IPO shares commencing from December 13.

The closing date for the initial phase is the December 17, with the possibility of extension up to December 27.

Of the total 3,00,00,000 units, 10% (30,00,000 units) has already been allocated to Nepalese citizens working abroad, 2% (6,00,000 units) reserved for company employees, and 5% (15,00,000 units) set aside for mutual funds.

The remaining 2,49,00,000 units will be available for the general public, and the offering officially begins on December 13.

Priced at Rs. 206 per share (Rs. 100 face value + Rs. 106 premium price), interested individuals can apply for a minimum of 10 units and a maximum of 3,00,000 units.

NMB Capital Limited has been appointed as the issue manager.