In this regard, the company has appointed RBB Merchant Banking as its issue manager.
Chirayu Bhandari, CEO of Nepal Reinsurance Company and Dr Ramesh Kumar Bhandari, CEO of RBB Merchant signed a memorandum of understanding of the IPO on behalf of their respective organization.
Nepal Reinsurance Company has authorized capital of Rs 15 billion, issued capital of Rs 10 billion and paid-up capital of Rs 8.40 billion. After the IPO, the paid-up capital will reach Rs 10 billion.
Nepal Reinsurance Company is established under private-public partnership model. It deals with domestic life and non-life insurance companies along with international insurance companies and reinsurance companies.
The company collected reinsurance premium of Rs 4 billion and invested Rs 9.40 billion in the last FY. The company estimated of earning Rs 1.40 billion in net profit in the last FY.
