IPO of Jyoti Life Insurance to open on Friday

KATHMANDU: Jyoti Life Insurance Company Limited has rescheduled its proposed Initial Public Offering.

The issue was previously set to open on March 7. However, the issue will now open on March 4 (Friday).

The company had submitted an application to Sebon requesting to issue 30% of its issued capital in the form of an IPO. Sebon approved the application on Falgun 07. NMB Capital has been appointed the issue manager for the proposed IPO issue.

The company has a total of 22 million registered shares of which 6.6 million shares will be issued in the upcoming IPO. While 5% of the issue, i.e. 3,30,000 units have been set aside for the employees of the company and another 5% to mutual funds, remaining 59,40,000 units are purely for individual investors.

Fiscal Nepal |
Wednesday March 3, 2021, 12:12:45 PM |

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