Union Life and Sanima Life Insurance Seek SEBON Approval for IPO Issue

Jun 15, 2021 10:13 AM Merolagani

Union Life and Sanima Life Insurance have sought approval from the Securities Board of Nepal (SEBON) to issue an initial public offering (IPO) on May 23.

Union Life  Insurance sought SEBON approval to issue 30 percent i.e. 645 million units of primary shares. The paid-up capital of the company will reach Rs 2.15 billion after the IPO.

ICRA Nepal has assigned BBB rating to the issue indicating moderate risk.

Similarly, Sanima Life Insurance sought approval to issue 6 million units of primary shares worth Rs 600 million. Following the IPO issue, the paid-up capital will reach Rs 2 billion.

Both companies have appointed Prabhu Capital as its issue manager.

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