KATHMANDU: The Initial Public Offering (IPO) of Nepal Micro Insurance closes today, offering 1.845 million shares worth Rs 184.45 million at a face value of Rs 100 per share.
The company received approval from the Nepal Securities Board to issue a total of 2.25 million shares. Of these, 225,000 shares were allocated to Nepalis working abroad, 67,500 shares reserved for employees, and 112,500 shares set aside for collective investment funds.
The remaining 1.845 million shares are available for public subscription. Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares.
NIMB Ace Capital is managing the IPO. Applications can be submitted through C-ASBA accredited banks, financial institutions, and the Mero Share platform.
According to CDS and Clearing, as of Wednesday, 1.572 million general applicants have applied for 2.411 billion units, exceeding the available shares by 11.057 times.
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