IME Life seeks SEBON approval to issue IPO

Jul 10, 2020 03:57 PM Merolagani

IME Life Insurance has sought approval from Securities Board of Nepal (SEBON) to issue initial public offering. The company is seeking approval to issue 30 percent primary shares of its issued capital.

Upon approval, the company will issue 6 million units of primary shares worth Rs 600 million to the general public.

The company has appointed Civil Capital as its issue manager. Care Rating Nepal has assigned Care NP IPO Grade 4 rating to the IPO indicating below average fundamentals.

Currently, IME Life has a paid-up capital of Rs 1.40 billion. After the IPO, the paid-up capital will reach Rs 2 billion.

comments powered by Disqus

Net Profit of Civil  Bank Decreases by 35%

Aug 14, 2020 09:06 PM

The net profit of Civil Bank (CBL) has decreased by 35.40 percent in the fourth quarter of the last FY. The bank earned a net profit of Rs 457 million in the review period compared to Rs 700.7 million of the corresponding period of the previous FY.