Reliable Life reapplies to SEBON with revised price of IPOs

Kathmandu: Reliable Nepal Life Insurance Company has submitted a fresh application to the Securities Exchange Board of Nepal (SEBON) with a revised premium price for the proposed initial public offering(IPOs).

The insurer has proposed to issue IPOs at NPR 299 which includes NPR 199 premium amount. Earlier it had applied to SEBON

Earlier, the company sought permission to issue an IPO at a face value of Rs 100 with an additional premium of Rs 120 at the rate of Rs 220 per share. But the company revised the premium price and applied it again to the board.

The company will issue 12 million shares worth 3.58 billion rupees at the rate of 299 rupees per share with an additional premium of 199 rupees at a face value of 100 rupees.

The company has a paid-up capital of NPR 2.8 billion which will reach NPR 4 billion after the full subscription of proposed IPOs. The insurer will additional NPR 1 billion to mee the minimum paid-up capital requirement(MCR).

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