NLG Insurance to Auction 320,533 Unallocated Right Shares

Kathmandu – NLG Insurance Company is set to auction 320,533.22 units of unallocated right shares starting from February 2, 2025. The auction follows the completion of the company’s recent right share issuance, during which a significant portion of the shares were successfully allocated to eligible shareholders.

Earlier, NLG Insurance had opened the sale of 9,631,220.22 units of right shares at a rate of 62.56 percent from November 26 to December 31, 2024. Of this, 9,310,687 units were allotted to shareholders who applied within the stipulated period. Additionally, the company refunded the amount to those who applied for shares exceeding their entitled rights.

However, a total of 320,533.22 units of right shares remain unallocated, comprising 19,977.31 units from the founder group and 290,555.91 units from the general group. These shares will now be made available through an open auction process.

Interested bidders can apply for these shares, priced at Rs 100 per unit, until February 9. Applicants from the founder group must apply for a minimum of 1,000 units, while the general public can apply for a minimum of 100 units. There is no maximum limit, allowing bidders to apply for all available shares.

Applications can be submitted through Lakshmi Sunrise Capital, the auction’s sales manager, as well as NLG Insurance’s branch offices in Biratnagar, Birgunj, Pokhara, Butwal, Surkhet, and Dhangadhi.