Crest Micro Life Insurance Issues IPO for Nepalese Employed Abroad

Kathmandu – Crest Micro Life Insurance Limited has opened the first phase of its Initial Public Offering (IPO) for Nepalese employed abroad from today, January 28.

The company is issuing 2.25 million units, equivalent to 30 percent of its issued capital of Rs 750 million, at a price of Rs 100 per share. In this first phase, 225,000 units, or 10 percent of the total IPO, are allocated exclusively for Nepalese working abroad who have obtained labor approval from the Government of Nepal.

Eligible applicants can apply for a minimum of 10 units and a maximum of 10,000 units. The application period ends on February 11. Submissions can be made through Mero Share Online or at ASBA member banks, financial institutions, and their designated branches approved by the Securities Board of Nepal.

Following the allocation of shares in the first phase, the remaining IPO will be issued to the general public in the second phase. NIMB Ace Capital Limited is managing the IPO issuance and sales for the company.