Kathmandu. Crest Micro Life Insurance’s IPO is scheduled to be distributed tomorrow, Tuesday, Chaitra 5. It is stated that the IPO will be distributed at the office of NIMB S Capital, the share issuance and sale manager, at 8:30 am.
20 lakh 48 thousand 538 applicants have applied for 2 crore 44 lakh 92 thousand 170 units in the said IPO till the last day. The company has been selling the IPO since Falgun 22. After allocating the IPO issued by the company to Nepalese employed abroad, the IPO has been issued for general investors in the second phase.
Due to the higher number of applications than the demand, this IPO will also be distributed through a lottery. In which 184,500 lucky people will get shares at the rate of 10 units.
The company had received permission to issue 225,000 units of shares in the IPO, equivalent to 225 million rupees, which is 30 percent of its issued capital of Rs 750 million. Out of this, 225,000 units, equivalent to 225 million rupees, which is 10 percent, have been issued and distributed to Nepalis employed abroad.
Similarly, 67,500 units have been distributed to the company’s employees and 112,500 units of ordinary shares have been distributed to collective investment funds. Now, in the second phase, the company has issued 1845,000 units of ordinary shares, equivalent to Rs 1845 million, to the general public.
