7 August 2024, Kathmandu

NIMB Ace Capital Ltd. has been appointed as an issue manager for issuing a total of 22,50,000 ordinary shares of Nepal Micro Insurance Company Limited (NMIC) to the general public at a face value of NPR 100 each in the near future, subject to SEBON approval.

NIMB Ace Capital Appointed

NIMB Ace Capital and NMIC have signed an agreement regarding the services of the issue manager for the same. The agreement was signed by Mr. Mrigendranath Rimal, Chief Executive Officer of the issuing company, and Mr. Sachindra Dhungana, General Manager of the issue manager.

With the aim of offering micro-insurance services to residents of low-income, underserved, and marginalized communities, NMIC has been operating as a non-life insurance provider. The company has been licensed for non-life insurance since the 27th of Chaitra, 2079 (Nepalese calendar), and has been dedicated to addressing the insurance needs of these communities since 2080 Baisakh 26.

NIMB Ace Capital Appointed Issue Manager for Nepal Micro Insurance Company