Himalayan Reinsurance has announced an IPO for the general public from Mangsir 27. The company has added a Rs. 106 premium to the face value of Rs. 100 and will issue 2,049,000 shares at a premium price of Rs. 206.
The Nepal Securities Board had already approved the issuance of an IPO worth Rs. 3 arba at a 30% premium on the registered capital of Rs. 10 arba. In the first phase, the company will issue 30 lakh shares for Nepali employees working abroad, out of which 2%, or 6 lakh shares, will be allocated to the employees and 5%, or 15 lakh shares, will be allocated to the collective investment fund.
Interested investors can apply for a minimum of 10 shares and a maximum of 300,000 shares. The IPO application can be submitted through C-ASBA member banks, financial institutions, and also through my share market.
The rating agency ICRA Nepal has provided an ‘ICRA NP IR A’ rating for the IPO issuance, ensuring the company’s ability to fulfill its responsibilities. The sales manager for the IPO issuance is NMB Capital, and the application can be submitted until Push 1. If all shares are not sold within that period, the application can be submitted until Poush 11.