Citizen Life Insurance will issue IPO from tomorrow, how much will it cost per unit?

Citizen Life Insurance is going to issue an IPO at a premium starting tomorrow, August 15th. Insurance is going to issue IPO at Rs 244 per share with a face value of Rs 100 per share plus a premium of Rs 144. The company got permission to issue 12.55 million shares worth 1.255 million rupees at the rate of 30% of its issued capital of 3.75 billion rupees.

Out of that, 5 percent has already issued 5 lakh 62 thousand 500 IPO shares worth 5 crore 62 lakh 50 thousand rupees for the employees. Likewise, 10 percent of the remaining 1687,500 shares equal to 1 billion 687 lakh 50 thousand rupees, i.e. 11 lakh 25 thousand shares of IPO for Nepali citizens who are employed abroad after obtaining labor approval from the relevant agencies of the Government of Nepal and 562 thousand 500 shares have been issued and distributed for collective investment funds.

The remaining 90 million shares are going to be issued in IPO for general investors. In this IPO, investors can apply for a minimum of 10 shares and a maximum of 1.5 million shares as early as August 19 and as late as August 29. The company’s IPO issue and sales manager is NIMBS Capital Limited. Investors can apply through the ‘My Share’ software provided by the participating banks and financial institutions and their branch offices and CDS and Clearing Limited, which are licensed by the Nepal Securities Board.