28 August 2024, Kathmandu
Star Micro Insurance Company Limited has officially appointed NIMB Ace Capital Limited as the issuer and sales manager for its upcoming Initial Public Offering (IPO).
NIMB Ace Capital Issue Manager
The IPO will feature 2,250,000 ordinary shares, each priced at NPR 100, totaling NPR 225,000,000, which represents 30% of the company’s issued capital.
Star Micro Insurance Company Limited, established on 14th Mangsir 2079 (December 2022), and licensed to provide non-life microinsurance services since 1st Shrawan 2080 (July 2023), has been actively delivering its services across various regions of Nepal.
The agreement for the IPO was formally signed on 9th Bhadra 2081 (25th August 2024) by Mr. Bishwo Ram Timila, CEO of Star Micro Insurance Company Limited, and Mr. Sachindra Dhungana, General Manager of NIMB Ace Capital Limited.
This IPO is set to significantly enhance Star Micro Insurance’s capital base, enabling the company to further expand its reach and impact in the non-life microinsurance sector.
NIMB Ace Capital Issue Manager
