The IPO issued by Sun Nepal Life Insurance Company at a premium price will be distributed next Friday.
Sales Manager Nepal SBI Merchant Banking informed that the IPO will be distributed at 8 am on Friday. More than 1.5 million have applied for the company’s IPO. According to the latest data of CDS and Clearing, 15 lakh 80 thousand 490 people have applied for 1 crore 78 lakh 60 thousand 420 shares worth 4 billion 26 crore 86 lakh 40 thousand 380 rupees.
In this calculation, 7 lakh 68 thousand eligible applicants will get IPO at the rate of 10 shares. 8 lakh 12 thousand 490 people will be empty handed.
The company brought 76 lakh 80 thousand IPO shares to the general public from July 32 to August 4. The company received permission from the Nepal Securities Board to sell 9.6 million shares worth 96 million rupees to the general public, which would be 30 percent of the issued capital of 3.2 billion rupees.
The company has already distributed 960,000 IPO shares of 10% rate to the general public and 480,000 IPO shares of 5% rate to collective investment funds.
The company sold the IPO for a total of Rs 239 after adding Rs 139 to the face value of Rs 100 per share. Apart from these, 480,000 shares were reserved for the employees of the company and the remaining IPO was brought to the public issue.