Himalayan Reinsurance Starts Issuing IPO from Today

Nov 20, 2023 08:12 AM Merolagani

Himalayan Reinsurance has started issuing initial public offering (IPO) to foreign migrated workers of Nepal from today.

The company obtained approval to issue 30 percent ordinary shares of its issued capital worth Rs 10 billion. Accordingly, it will issue 30 million units worth Rs 3 billion to the general public. Out of it, it issuing 3 million units to foreign migrated workers, 600,000 units to employees and 1.5 million to mutual funds in the first stage.

The company is issuing the ordinary shares at Rs 206 per unit including face value of Rs 100 and premium of Rs 106 per unit. The interested investors can apply for a minimum of 10 and maximum of 300,000 units of shares.

The issue will close on November 21.

ICRA Nepal has assigned A rating to the issuer indicating adequate safety.

The company has appointed NMB Capital as issue manager. The interested investors can apply from all ASBA approved BFIs and Meroshare.

 

 

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