Neco Insurance to sell 99,949.11 units unsold right shares; auction to commence from 19th Baisakh

Neco Insurance has published a notice regarding the auction of unsold right shares. The company will auction 99,949.11 unit shares to the general public. This includes 4,063.87 unit promoter shares, however, only promoter can bid for such type of shares. 

Interested bidders can bid for Minimum of 100 units that should be multiple of 10. The minimum bid price should be Rs 100. The forms can 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 has successfully allotted the shares on 28th Chaitra, 2074. 

NMB Capital had been managing the issue. 

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