Nepal Micro Insurance opens IPO for overseas Nepali workers

KATHMANDU: Nepal Micro Insurance Limited has opened the sale of its ordinary shares (IPO) for Nepalis working abroad.

The company has received approval from the Securities Board of Nepal to issue 2.25 million shares at Rs 100 per unit.

Of the total shares, 10 percent (225,000 units) have been allocated for Nepalis employed overseas. Similarly, 3 percent (67,500 units) have been reserved for the company’s employees, while 5 percent (112,500 units) are earmarked for a collective investment fund.

The remaining 1.845 million shares will be available to the general public.

Nepalis working abroad can apply for shares until February 4. Applications are open for a minimum of 10 shares and a maximum of 100,000 shares.

The IPO has received a ‘Care-NP BB minus rating’ from Care Rating Nepal, indicating a medium level of risk in the company’s ability to meet its obligations.

NIMB Ace Capital is managing the IPO issuance.

Interested Nepalis working abroad can apply through C-ASBA-accredited banks, financial institutions, and the Mero Share platform.