SEBON Approves IPO of IME Life Insurance and Upper Lohare Hydropower Company

Jun 07, 2023 09:18 AM Merolagani

Securities Board of Nepal (SEBON) has approved initial public offering (IPO) of IME Life Insurance and Upper Lohare Hydropower on June 6.

The board approved IPO of IME Life Insurance to be issued at premium rate. The company is planning to issue ordinary shares at Rs 236.91 per unit including face value of Rs 100 and premium rate of Rs 136.91.

The company will issue 12 million units of shares at premium rate, out of which, it will issue 600,000 units to employees at face value. The company has appointed Civil Capital as its issue manager.

Similarly, the board granted approval to Upper Lohare Hydropower to issue 2,498,040 units of shares worth Rs 249.8 million. The company has appointed NIC Asia Capital as its issue manager.

 

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