Today is the last day to apply for Citizen Life’s IPO

Kathmandu, Sep 5: Today, August 19, is the last day to apply for IPO of Citizen Life Insurance. Applications can be made till today for the IPO issued by the company at a premium to the general public from 15th of August. The company has issued shares at a face value of Rs 100 per share, adding a premium of Rs 144 for a total of Rs 244.

The company has issued 11250 thousand shares worth Rs 1.1255 million at the rate of 30% of its issued capital of Rs 3.75 billion. was allowed to do so. 5 percent of them have already issued 562 thousand 500 shares worth 5 crore 62 lakh 50 thousand rupees at 100 rupees per share for insurance employees.

Likewise, 10 percent of the remaining 1 billion 687 million 50 thousand rupees equal to 10 million 687 thousand 500 shares i.e. 11 million 25 thousand shares for Nepali citizens who are employed abroad after obtaining labor approval from the relevant body of the Government of Nepal and 5 million 62 thousand 500 shares have been issued and distributed for collective investment funds.

The remaining 90 million shares are going to be issued for general investors. Investors can apply for a minimum of 10 shares and a maximum of 1.5 million shares in the IPO. 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.