The IPO issued by General Insurance Company Nepal is going to be distributed on Tuesday morning. Sales manager NIBL Ace Capital is preparing to distribute the shares at 10:30 am. Capital is going to distribute IPO live through Facebook page.
The company has issued 3 million ordinary shares at the face value of Rs 100 per share. Out of which, 120,000 shares were allocated for employees and 150,000 shares for collective investment funds. The general public has applied for the remaining 2.73 million shares.
More than 800,000 people have applied for the company’s IPO. Due to high demand, shares will be distributed through round robin and only 273,000 people will get shares. In this regard, more than 500,000 applicants will be left empty handed. This is the first time that more than 800,000 people have applied for any IPO.
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