10 September 2024, Kathmandu
Protective Micro Insurance Limited is gearing up to launch its Initial Public Offering (IPO) to the public.
Protective Micro Insurance Appoints SBI Merchant Banking
To facilitate the process, the company has appointed Nepal SBI Merchant Banking Limited and Nabil Investment Banking Limited as the underwriters for the IPO. Both firms will handle the underwriting responsibilities for the initial public offering.
The company plans to issue 2.25 million ordinary shares to the public, each priced at NPR 100, totaling NPR 225 million. In a recent ceremony, the managing directors of both banks and the CEO of Protective Micro Insurance signed a tripartite agreement to guarantee the purchase of the shares.
Nepal SBI Merchant Banking Limited, a subsidiary of Nepal SBI Bank, is a renowned financial institution authorized by the Securities Board of Nepal to offer a wide range of financial services, including investment management, securities issuance, underwriting, depository account operations, institutional consulting, and share registrar services.
Protective Micro Insurance, a micro non-life insurance company, is headquartered in Dhangadhi, Kailali, in the Sudurpaschim Province of Nepal. It specializes in providing insurance solutions tailored to the needs of the rural population and small businesses in the region.
For more: Protective Micro Insurance Appoints SBI Merchant Banking