Application for Citizen Life’s IPO Closes Today !

Kathmandu : Today is the last day to apply for IPO of Citizen Life Insurance. The company issued the IPO to the general public after the distribution of the IPO issued for employees and Nepalese in foreign employment. The company opened the sale of shares to the general public at a nominal price of Rs 100 per share with a premium of Rs 144 added to the total price of Rs 244 per share.The company has received permission to issue 11.25 million(1 crore 12 lakh 50 thousand) shares worth 1.125 million(1 Arab 12 crore and 50 lakh) rupees at the rate of 30% of its issued capital of 3.75 billion (3 Arab 75 crore)rupees. Out of which, 5 percent has already issued 562 thousand 5 hundred (5 lakh 62 thousand 5 hundred )shares worth 56.25million ( Rs 5 crore 62 lakh 50 thousand )at Rs 100 per share for insurance employees.Likewise, 10 percent of the remaining 1 Arab 6 crore 87 lakh 50 thousand rupees equal to 16 lakh 87 thousand 500 shares i.e. 11 lakh 25 thousand shares for Nepali citizens who are employed abroad after obtaining labor approval from the relevant body of the Government of Nepal and 5 lakh 62 thousand 500 shares have been issued and distributed for collective investment funds.General investors (public citizen)can apply for the company’s IPO till August 19. In that IPO, you have to apply for a minimum of 10 shares, and you can apply for a maximum of 15 lakh shares. The issuing and selling manager of the insurance securities is NIMBS Capital Limited.