Reliable Life gets rating for IPO issue

Kathmandu: Reliable Nepal Life Insurance Company has received a ‘Care NP Triple B’ rating for its primary share issue. The company has stated that it has got ‘Triple B’ rating which provides security signal according to the issuer rating done by Care Rating Nepal. This rating is the best rating among new life insurance companies.

The company is preparing to issue primary shares worth Rs 600 million to the public. Civil Capital has been appointed as the manager of securities issuance and sale. The third annual general meeting held on July 19 has also passed a special resolution for the issue of primary shares. As soon as the general meeting is over, the company has informed the Nepal Securities Board that it will take forward the necessary process for the issuance of primary shares. The company was required to prepare an audit report of 2075/76 for the issue of primary shares.

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