• BIZ BRIEFS
KATHMANDU: The initial public offering (IPO) of Citizens Life Insurance (CLI), which was opened for Nepali migrant workers, has been distributed through the company's issue manager NIMB Ace Capital.
The IPO was opened at the rate of Rs 244 per unit by adding Rs 144 as a premium to face value of Rs 100 per share. Of the total issued capital of Rs 3.75 billion of the company, 30 per cent of shares totalling Rs 1.120 billion or 10.12 million units were opened for bidding.
As per NIMB Ace Capital, 154,990 shares have been allotted to 7,885 applicants who filed their applications for a minimum of 10 to 40 shares.
Similarly, 19,743 applicants who sought to procure 50 to 2,000 shares were issued a total of 789,720 shares at the rate of 40 shares each.
According to NIMB Ace Capital, a total of 944,710 shares have been allotted to the applicants.
A version of this article appears in the print on August 8, 2023, of The Himalayan Times.
