29 August 2024, Kathmandu
Liberty Micro Life Insurance Limited has appointed NIMB Ace Capital Ltd. as the issuer (issue manager) for the issuance of 2,250,000 ordinary shares, with a total value of NPR 225,000,000.
Liberty Micro Life Insurance Appoints Issue Manager
These shares will be offered to the public at a face value of NPR 100 per share, representing 30% of the company’s issued capital.
Liberty Micro Life Insurance was established with the goal of providing micro life insurance services to low-income individuals, residents of underdeveloped areas, and marginalized communities.
The company received its microlife insurance license on August 18, 2023, and began formal operations on December 22, 2023.
The agreement was signed on August 25, 2024, by Mr. Ram Kumar Yadav, Chief Executive Officer of Liberty Micro Life Insurance, and Mr. Sachindra Dhungana, General Manager of NIMB Ace Capital Ltd.
For more details: Liberty Micro Life Insurance Appoints Issue Manager
About NIMB
Nepal Investment Mega Bank Ltd. (NIMB) was formed through the merger of Nepal Investment Bank Ltd. (NIBL) and Mega Bank Nepal Ltd., reflecting a significant consolidation in Nepal’s banking sector. Originally established in 1986 as Nepal Indosuez Bank Ltd. in collaboration with French partners, NIBL transitioned to full Nepalese ownership in 2002. The bank merged with Mega Bank in January 2023, bringing together decades of banking experience under the new unified name, NIMB.
NIMB aspires to be Nepal’s preferred financial service provider, delivering world-class services with a focus on customer satisfaction, quality, integrity, and teamwork. The bank is committed to sound corporate governance, ethical principles, and social responsibility, aiming to significantly contribute to Nepal’s financial sector. NIMB’s strategic objectives include enhancing customer service, leveraging technology, and maintaining a high-quality asset portfolio to ensure sustainable growth and value for stakeholders.