KATHMANDU: Jyoti Life Insurance Company has received permission from Securities Board of Nepal (Sebon) to issue an IPO to the general public.
Earlier, the company had submitted an application to Sebon requesting to issue 30% of its issued capital in the form of an IPO.
The company has a total of 22 million registered shares of which 6.6 million shares will be issued in the upcoming IPO.
NMB Capital has been appointed the issue manager for the proposed IPO issue. Note that the date of issue hasn’t been declared yet.
CARE Ratings Nepal Limited (CRNL) has assigned the ‘CARE-NP BBB (Is)’ rating to Jyoti Life Insurance Company Limited (JLIC).
Issuers with this rating are considered to offer a moderate degree of safety regarding timely servicing of financial obligations, in Nepal. Such issuers carry moderate credit risk.