Kathmandu. IME Life Insurance Company has received ‘Care NP Triple B’ rating for IPO issuance. According to rating agency CARE Nepal, the rating indicates that the company is able to meet its financial obligations on time.
The company has been rated for an IPO of Rs 600 million. As soon as the rating agency’s report is received, the company’s IPO issuance process will now move forward.
Currently, the company’s paid-up capital is Rs 1.40 billion. Now, after the IPO issue, the company’s paid-up capital will reach Rs 2 billion. After the issuance of primary shares, the share of the promoters will be 70 percent and the share of the public will be 30 percent.
So far, the company has been providing insurance services from 120 branch offices. In addition, the company has more than 18,000 agents.