Himalayan Reinsurance Company has announced that it will open the Initial Public Offering (IPO) for Nepali citizens working abroad from the 21st of Kartik.
Himalayan plans to issue 30% of its total capital of NPR 10 billion, which amounts to NPR 3 billion, in the IPO available to the general public. The company had received approval from the board to issue shares in two phases, with the first phase offering 30 lakhs shares to Nepali citizens working abroad.
Investors can apply for shares till Mangsir 5 . The company has set a premium of NPR 106 per share in addition to the face value of NPR 100, making the total IPO price NPR 206 per share. Nepali citizens working abroad can apply for a minimum of 10 shares and a maximum of 3 lakh shares.
Investors can apply for shares through C-ASBA certified banks and financial institutions, as well as through Mero Share.
Credit rating agency ICRA Nepal has provided an “ICRA NP Issuer Rating A” for this IPO, indicating that the company has a sufficient capacity to meet its financial responsibilities securely. The IPO is managed by NMB Capital.