LIC Nepal Completes Opening of Sealed Bids for Unsold Right Shares

Kathmandu – Life Insurance Corporation (Nepal) Limited has completed the opening of sealed bids for its unsold right shares. The bid opening took place on February 24 at Lisara Banquet, Naxal, Kathmandu.

The company had issued right shares in the ratio of 1:0.8845168—meaning shareholders were entitled to 0.8845168 new shares for every existing share held. The sale was open from November 27, 2024 to January 1, 2025, but a total of 492,577 shares remained unsubscribed. In line with Section 15 of the Share Allocation Directive 2074, these unsold shares were put up for auction starting January 27, allowing individuals, companies, and organizations to place bids.

A total of 1,799 bids were received at various locations, including the sales manager’s office at Nepal SBI Merchant Banking Limited, Thamel, as well as LIC Nepal’s central and branch offices in Biratnagar, Birgunj, Pokhara, Nepalgunj, Butwal, Surkhet, and Dhangadhi.

The highest bid for the shares reached Rs. 1,100 per share, while the lowest successful bid was Rs. 1,022 per share. However, the final price may vary after the submission of application forms.