Kathmandu. Citizen Life Insurance Company Limited (Citizen Life Insurance) has issued over 3.57 crore units of shares to its affiliate market.
Issuing a notice today, the company informed that the lock-in period of 3,57,50,000 units of shares will end from September 11. Out of this, 3.50 crore units of promoter shareholders and 7,50,000 units of employees of the company have been set up.
There is a provision that the shares of the promoter and employees of any company should be kept in locks for 3 years from the date of IPO allotment. However, even after the lockdown period is over, the shares of the directors and employees working in the top management position of the company will remain on hold.
