On Sunday, Himalayan Reinsurance Limited’s Initial Public Offering (IPO) was officially listed on the Nepal Stock Exchange (NEPSE).
The NEPSE has listed 10 crore shares, determined by the company’s issue capital. The opening trading range, set by NEPSE, spans from NPR 103.07 to NPR 309.21 per share, adhering to the established practice of setting it within three times the net worth per share.
Scheduled to commence trading on Monday under the symbol ‘HRL’ . Himalayan Reinsurance Limited concluded its IPO on Poush 11, drawing substantial interest from investors. Running from Mangsir 27 to Poush 2, the IPO offered 2,49,00,000 shares at a face value of NPR 100 per share, coupled with an additional premium of NPR 106 translated to a selling price of NPR 206 per unit.
As the company begins its journey on the stock exchange, market participants are closely monitoring the performance of HRL shares in the secondary market. The listing on NEPSE marks a significant milestone for Himalayan Reinsurance Limited, adding depth to Nepal’s evolving stock market landscape.