KATHMANDU: Crest Micro Life Insurance Limited has launched its Initial Public Offering (IPO) for Nepalis working abroad starting today.
The company has allocated 10 percent, or 225,000 units of its total IPO shares, specifically for Nepali citizens employed overseas. Applications for these shares can be submitted until February 10.
The price per share has been set at Rs 100, with applicants required to subscribe to a minimum of 10 units and a maximum of 10,000 units. The company received permission from the Nepal Securities Board to issue a total of 2.25 million IPO shares.
Nepalis working abroad can apply for the IPO through C-ASBA-certified banks, financial institutions, and the Mero Share platform. NIMB Ace Capital is managing the IPO issuance process.
Crest Micro Life Insurance obtained its small life insurance license on Chaitra 28, 2079 BS, and later received approval to operate from the Nepal Insurance Authority on May 21, 2024.
The company was officially established as a public limited company on May 24, 2023.
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