KATHMANDU: The initial public offerings of Nepal Micro Insurance Company Limited (NMIC) has witnessed a whooping response from the investors. The company received 6.82 times more applications than the demand.
According to CDS and Clearing Limited, the company’s IPO has received applications for 12.596 shares worth NPR 1.259 billion by the end of second day. A total of 965,221 applications received till 5 pm on Monday.
NMIC has received approval to issue 2.25 million shares worth NPR 22,50,00,000 equivalent to 30 percent of its authorized capital. Securities and Exchange Board of Nepal (SEBON) is the regulatory authority for the stock market.
February 27 is the last date for the submission of application for the IPO. NIMB Ace Capital Limited is serving as the IPO issuance and sales manager.
