Kathmandu. Nepal Micro Insurance’s shares are set to start trading from next Monday.
Nepal Micro Insurance’s IPO has been listed on the Nepal Stock Exchange (NEPSE) today, Thursday. Trading begins on the second day of listing of any company’s ordinary shares on the NEPSE. However, since there will be no share trading tomorrow, Friday, and Sunday is a public holiday for Ram Navami, the shares of this company will be traded from next Monday.
The IPO listing agreement has been signed by Chudamani Chapagain, Chief Executive Officer of NEPSE, and Mrigendra Rimal, Chief Executive Officer of Nepal Micro Insurance.
A total of 7.5 million shares of Nepal Micro with a face value of Rs 100 have been listed on NEPSE. Of which 5.25 million shares (70 percent) belong to the founder group and the remaining 2.25 million shares (30 percent) belong to the general public (including Nepalis employed abroad, collective investment funds and employees).
Nepse has given Nepal Micro Insurance the ‘NMIC’ trading signal. Nepse has set a price of Rs 100.80 per share and a maximum of Rs 302.40 for Nepal Micro for the first transaction. If the shares of this company are traded within the range set by Nepse in the special pre-open session next Monday, they will be traded for the regular session.
Nepal Micro Insurance had opened its IPO sale for the general public from Falgun 11 to Falgun 15. The IPO allotment was held on February 23 at the office of the securities sales manager, NIMB S Capital.
