The company is auctioning 197,717 units of promoter right shares that went unsold during its issuance from December 2- January 6.
The interested bidders can bid for a minimum of 100 and maximum of all shares under IB limit at a minimum price of Rs 100. The bidders can bid from Siddhartha Capital at Naxal-Kathmandu and Biratnagar, Surkhet, Birgunj, Nepalgunj, Pokhara, Butwal and Dhangadhi branch of Siddhartha Bank.
Earlier, Everest Insurance issued 1,403,325 units of promoter right issue worth Rs 140.3 million. The company issued 105 percent promoter right issue in a bid to maintain its promoter share ownership to 51 percent.
After the capitalization of the right issue, the paid-up capital will reach Rs 273.9 million. The company will again issue 300 percent right shares to meet the minimum paid-up capital of Rs 1 billion as per IB directive after the issue.
