LIC Nepal Opens Auction for 500,000 Unallocated Right Shares

Kathmandu – Life Insurance Corporation (LIC) Nepal has opened applications for the auction of nearly 500,000 unallocated right shares, starting today, January 3.

The company had recently issued right shares to its shareholders in the ratio of 1:0.8845 (88.45 percent) based on its paid-up capital. However, 492,577 shares from the general public category remain unsold. These shares are now being sold through an open auction.

Interested individuals and institutions can submit bids for the shares until February 17. The minimum price has been set at Rs 100 per share, with investors allowed to bid at or above this price. Applicants can purchase a minimum of 100 shares, with no upper limit on the number of shares that can be purchased.

Bids can be submitted at Nepal SBI Merchant Banking, the designated securities sale manager, as well as LIC Nepal’s central office at Putalisadak, Kathmandu, and its branches in Birjung, Biratnagar, Pokhara, Dhangadhi, Butwal Nepalgunj, and Surkhet.