KATHMANDU: Crest Micro Life Insurance Limited is set to issue ordinary shares (IPO) starting January 28, 2025.
The company is offering 10% of its shares, equivalent to 225,000 units, exclusively for Nepalis employed abroad.
Applications for these shares can be submitted until February 12, 2025. Interested investors can apply for a minimum of 10 shares and a maximum of 10,000 shares.
The IPO, priced at Rs 100 per share, has received approval from the Securities Board of Nepal to issue a total of 2.25 million shares.
Rating agency ICRA Nepal has assigned a “ICRANP-IR Double B” rating to this IPO, indicating moderate credit risk regarding the company’s ability to fulfill obligations.
NIMB Ace Capital is the issue manager for this IPO. Nepalis working abroad can apply for shares through C-ASBA-approved banks and financial institutions or via the Mero Share platform.
Crest Micro Life Insurance was granted a license for micro life insurance on April 11, 2023 and began operations on May 22, 2023.
Registered as a public limited company, it aims to provide micro-life insurance services to low-income individuals, residents of underserved areas, and marginalized communities.
The company’s ownership structure includes 70% investment from prominent Nepali business groups, with the remaining 30% to be held by the general public after the IPO issuance.
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