The IPO of Citizen Life Insurance will be Distributed Next Week

Kathmandu : The IPO of Citizen Life Insurance will be distributed next week. 15 lakh 10 thousand 693 (1.5 million) people have applied for this IPO, in which the amount of 4 million 9 crore 68 lakh 3 Thousand and Nine hundred Twenty (Rs. 4 billion and 9.6 million) application has been approved.

The sales manager of the company NIMBS Capital, said that the IPO will be distributed next week.The company has sold 30% of the issued capital of 3 million 75 crore (3.75 billion rupees) to general investors which means 1 million 12 Crore 50 lakh (1.12 billion rupees) was distributed as IPO.

The company has sold 1 crore 12 lakh 50 thousand (10.12 million) shares at the quoted price of Rs 100 plus a premium of Rs 144 per share at Rs 244 per share.

Out of which, 11 lakh 25 thousand (1.12 Million) shares have been sold and distributed to Nepalese working abroad, 5 lakh 62 thousand 500 (0.5 Million) shares to collective investment fund and 5 lakh 62 thousand 500 (0.5 Million) shares to employees.