23rd February 2025, Kathmandu
Nepal Micro Insurance Company Limited has opened the sale of its Initial Public Offering (IPO) for the general public. After completing the first phase by allocating shares to Nepali workers abroad, the company is now selling shares to the public in its second phase.
Nepal Micro Insurance Company IPO
Details of the IPO
The company has issued 22,50,000 shares, amounting to 30% of its total capital, at an issue price of NPR 100 per share. These shares are part of the company’s total capital of NPR 75 crore. The initial allocation includes 2,25,000 shares for Nepali workers abroad, 67,500 shares for employees, and 1,12,500 shares for collective investment funds. The remaining 18,45,000 shares, valued at NPR 18.45 crore, are now available for public purchase.
Application Timeline
Investors can apply for shares from 11th Falgun 2081 (February 23, 2025) until 15th Falgun 2081(February 27, 2025). If the required applications are not received by this date, the deadline will be extended until 25th Falgun 2081 (March 9, 2025). Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares.
Where to Apply
Applications can be submitted through any authorized ASBA member bank or financial institution approved by the Securities Board of Nepal (SEBON). Additionally, investors can apply through the Mero Share platform.
Management of IPO Sale
The IPO issuance and sales manager for the IPO is NIMB Capital Limited, which will oversee the sale process. The public offering follows the successful allocation of shares to Nepali workers, employees, and investment funds in the earlier phase.
General Public Allocation
A total of 18,45,000 shares, representing 24.6% of the company’s total capital, are now available for the public. This is part of the company’s effort to raise funds for growth and expansion. The IPO represents a significant opportunity for public investors to participate in the insurance sector.
Investment Opportunity
This IPO provides an excellent opportunity for the public to invest in Nepal Micro Insurance Company. The company is expected to grow, and investors can potentially earn good returns from this offering.
Conclusion
The IPO marks a significant step in Nepal Micro Insurance’s expansion strategy. It offers the public a chance to invest in a growing sector. Applications can be made by the 15th Falgun(27 February), with a possible extension until the 25th Falgun(9 March), depending on demand.
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