Citizen Life Insurance’s IPO has been allotted.
The company’s IPO was distributed on Wednesday. Out of the total number of applicants who applied for the IPO, 9 lakh applicants were selected at the rate of 10 shares. After the IPO, many people are interested in the opening range of the company, so today we have brought information about the opening range.
The company had sold 90 million IPO shares to the general public at a nominal price of Rs 100 per share, adding Rs 144 as a premium, at Rs 244 per share. At the time of issuing the IPO, the actual net worth of the company was Rs 172.43. NEPSE will set the opening range based on the net worth of the company, so the opening range of the company will be set from Rs 172.43 to Rs 517.29.
Now after the company lists its shares in NEPSE, investors will be able to sell their IPO in the secondary market. NIMB ACE Capital was the sales manager in this IPO of the company. The rating agency Icra Nepal has given this insurance ‘IcraNP Triple B Insurer Rating’. Which indicates that there is a medium level of risk in the ability of the company to bear its obligations.