Kathmandu. Nepal Micro Insurance’s IPO has been allotted today, Friday. The IPO was allotted at the office of NIMB S Capital, the securities sales manager, at 8:30 am.
The company had issued an IPO for general investors from Falgun 11. The company had received permission to issue 2.25 million shares worth Rs 225 million, equivalent to 30 percent of its issued capital of Rs 750 million.
Out of which, 225,000 shares worth Rs 225 million, equivalent to 10 percent, were issued to Nepalis employed abroad. 67,500 shares were allotted to the company’s employees and 112,500 shares were allotted to the collective investment fund.
The company had issued 1845,000 shares worth Rs. 1845,000 to the general public in the second phase. This IPO was open from Falgun 11 to Falgun 15. 2446,350 shares demanded by 1817,148 applicants were accepted. 171,960 shares demanded by 10,386 applicants were rejected.
Due to the high number of applications, this IPO has also been allotted through a lottery. In which 184,500 lucky applicants have received shares at the rate of 10 shares. Out of the 1,632,648 registered applicants in this IPO, 1,632,648 have been left empty-handed.
The final results of Nepal Micro Insurance’s IPO can be viewed on the websites of CDSC’s Mero Share, the securities sales manager NIMB S Capital, and the securities issuer Nepal Micro Insurance.
