Nepal Insurance Company to sell 1.61 lakh unit unclaimed right shares ; Auction to commence on 3rd Ashad

Nepal Insurance Company has published a notice regarding the auction of unsold right shares. The auction is scheduled to commence on 3rd Ashad and end on 10th Ashad, 2075. 

The company will auction 2,177.30 units promoter shares and 1,58,946.80 units ordinary shares at a price Rs 100 or above. The minimum bid unit needs to be 1000 for promoters and 100 for ordinary type shares. 

NIBL ACE Capital will be managing the auction. 

Interested bidders can submit their bid at NIBL ACE Capital, Lazimpat or any of its branches. Similarly, bid can also be submitted at branches of Nepal Investment Bank in Surkhet, Nepalgunj, Narayanghat and Dhangadi. 

Nepal Insurance Company had floated 100% right shares from 5th Baisakh to 8th Jestha, 2075. The unsold right shares at that time are now being auctioned. The company's capital will shoot to Rs 61.76 crores after the capitalization of right and 4.52% bonus shares.