Overseas Nepali workers drive Himalayan re-insurance IPO with 60% application surge

KATHMANDU: Himalayan Re-Insurance’s IPO has garnered significant traction, with over 60 percent of applications received by Sunday.

The company rolled out its IPO targeting Nepalis employed overseas at a premium rate since the previous Monday. As of Sunday evening, a total of 28,479 applicants have sought to acquire 3,482,900 shares.

CDAC reported an overwhelming response, tallying over 717,477,400 purchase applications within this timeframe.

Himalayan Re-Insurance issued ordinary shares at Rs. 206 per share, including a premium of Rs. 100 per share, totaling Rs. 106.

Initially, the IPO is exclusively accessible to Nepalese employed abroad, allowing them to apply for a minimum of 10 shares and a maximum of 300,000 shares in this offering.

The window for IPO purchase applications remains open until December 4.