The IPO allotment process of Sun Nepal Life Insurance Company Limited has been completed today at the offices of the issue manager, Nepal SBI Merchant Banking Limited, in Kathmandu.
Sun Nepal Life Insurance Company Limited had offered 76,80,000 unit IPO shares at a price of Rs. 239 per share, which consists of a face value of Rs. 100 and a premium price of Rs. 139 per share. The offering was open to the general public from Sharwan 32 to Bhadra 4, 2080.
The total issued capital of the life insurance company is Rs. 3.2 Arba, with 30% or 96,00,000 unit shares allocated for the public, including Nepalese citizens working abroad and the general public. Out of this total offering, 10%, equivalent to 960,000 unit shares, was made available to Nepalese citizens working abroad from the 1st to the 15th of Shrawan. The remaining 86,40,000 units were designated for the general public, which also includes company employees and mutual funds, during the specified dates mentioned above.