Shikhar Insurance Starts Auctioning Unsold Right Shares From Today

Aug 05, 2020 06:31 AM Merolagani

Shikhar Insurance (SICL) has started auctioning 87,412 units of shares from today.

 The company is auctioning the shares that went unsold during its issuance. Shikhar Insurance issued 30 percent right shares i.e. 3,171,932 units of right shares at a ratio of 10:3 to its existing shareholders from June 28-July 19.

The interested bidders can apply for a minimum of 50 and maximum of all shares at a minimum price of Rs 100. The auction will close on August 12.

The company has appointed NIBL Ace Capital as its issue manager. The interested bidders can bid from all branches of NIBL Ace Capital, designated branches of Nepal Investment Bank and Green Development Bank.

Currently, the company has a paid-up capital of Rs 1.05 billion that will reach Rs 1.37 billion after capitalization of the right shares.

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