Neco Insurance Auction : Bid opening today !!!

The auction manager company has published a notice regarding the bid opeing of 99,949.11 unit auction shares. As per the notice, the bid opening will be done today (1st Jestha, 2075) at 3 pm in the premises NMB Capital, Naag pokhari. 

The company had auctioned 99,949.11 unit shares to the general public. This included 4,063.87 unit promoter shares and 95,885.24 units ordinary shares. However, only promoter can bid for promoter type shares. 

Interested bidders could bid for Minimum of 100 units that should be multiple of 10. The minimum bid price should have been Rs 100. The forms could be collected and submitted in NMB Capital, Naxal or any stated branches of NMB Bank. 

The 50% right shares commenced from 26th Magh and ended on 1st Chaitra, 2074 , which was open for the eligible shareholders who held the shares at the time of bookclose. The Company had successfully allotted the right shares on 28th Chaitra, 2074. 

NMB Capital had been managing the issue. 

Neco Insurance had a paid-up Capital of Rs 71.29 crore and will meet the requirement for non-life insurance company after the listing of auction shares.