Lock-In Period for Guardian Micro Life’s Mutual Fund Shares Nears End
Kathmandu – The six-month lock-in period for 112,500 shares of Guardian Micro Life Insurance’s mutual fund is set to expire on Shrawan 4 (July 20).
These shares were locked in following regulatory provisions that require mutual fund allotments from Initial Public Offerings (IPOs) to remain non-tradable for six months from the date of public issuance. However, shares allotted to the company’s promoters and employees will continue to remain under lock-in for three years.
Guardian Micro Life had issued 2.25 million IPO shares, which account for 30 percent of its total issued capital. The company’s share registrar is Himalayan Investment Banker Limited.