Citizen Life Insurance is conducting an IPO for the public starting from Today .
The IPO offers 9 million shares at Rs 100 per share with an additional Rs 144 premium, totaling Rs 244 per share. The company received approval to sell 30% of its 3.75 billion IPO capital.
The company allocated 1.125 billion worth of shares to employees and distributed some to Nepalis abroad and collective funds. The general public IPO sale period is from early Bhadra 19th to late Bhadra 29th. Applications can be made for 10 to 1.5 million shares through NIMBS Capital Limited, ASBA member banks, financial institutions, and “my share.”
Icra Nepal gave the IPO an Issuer Triple B rating, signifying moderate safety in meeting financial obligations. The company started operating in 2074, with a registered capital of Rs 5 billion.
The board of directors consists of seven members, chaired by Pradeep Jung Pandey. The company has been profitable, with projections of substantial profit in the current fiscal year. The net worth per share ranges from Rs 172.43 to Rs 517.29, set by NEPSE for the first trading day after listing.
Citizen Life Insurance IPO Details
| IPO Information | |
|---|---|
| Public IPO units | 9,000,000 |
| Price per Share | Rs 244 (Including Premium) |
| Permission for IPO | 30% of 3.75 billion capital |
| Employee Shares | 562,500 shares at Rs 100 per share |
| Overseas Nepali Shares | 1,125,000 shares |
| Collective Investment Fund Shares | 562,500 shares |
| Financial Overview | |
|---|---|
| Accumulated Profit (076-77) | More than 605 million rupees |
| Accumulated Profit (077-78) | More than 909 million rupees |
| Accumulated Profit (078-79) | More than 1.267 billion rupees |
| Projected Profit (080-81) | More than 3.417 billion rupees |
| Projected Profit (081-82) | 3.2 billion rupees |
| Board of Directors | |
|---|---|
| Chairman | Pradeep Jung Pandey |
| Directors | Sumit Kumar Agarwal, Manoj Karki, Mahesh Swaran, Dawa Footi Sherpa, Abhinav Jung Bahadur Rana, Mr. Karki (Independent Director) |