Nepal Reinsurance Concludes Credit Rating for IPO

Jun 28, 2019 12:26 PM Merolagani

Nepal Reinsurance Company has concluded credit rating of proposed primary shares (IPO) from ICRA Nepal. The company is set to issue IPO worth Rs 1.60 billion in near future.

ICRA Nepal has assigned Grade 2 rating to the proposed IPO indicating above average fundamentals. The 4th AGM of the company held on June 14 endorsed the IPO proposal. For this regard, the company has appointed RBB Merchant Banking as its issue manager.

Nepal Reinsurance 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.

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Government Fails to Collect Targeted Revenue; Capital Expenditure Nears 70%

Jul 16, 2019 03:53 PM

The government has failed to collect targeted revenue in the current FY. As per the Office of Auditor General (OAG), the government collected 83.66 percent revenue till July 15, a day before the closing of the current FY.