Last day to apply for IPO of Citizen Life Insurance

Sep 05, 2023 08:41 AM Merolagani

Today is the last day to apply for  initial public offering (IPO)  of Citizen Life Insurance. 

The company is issuing the IPO at Rs 244 per unit including face value of Rs 100 and premium of Rs 144 to the general public from September 1..

The company obtained approval to issue 30 percent ordinary shares of its issued capital i.e. 11,250,000 units of shares worth Rs 1.12 billion.

Out of it, it has already issued 562,500 units to its employees. Similarly, it issued and allotted 1,125,000 units to employees and 562,500 units to mutual fund.

After that, the company is issuing the remaining 9 million units to the general public.

Interested investors can apply for a minimum of 10 and maximum of 1.5 million units of shares.

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

The company has appointed NIMB Ace Capital as issue manager. The investors can apply from all C-ASBA approved BFIs and Meroshare.



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