Kathmandu, July 10: Nearly 1.29 million investors have applied for the shares of IME Life Insurance Company Limited. Civil Capital, the company’s share issue and sales manager, has informed that on the last day of the company’s IPO sale at a premium price to the general public, i.e. Monday, 15.7 million shares have been applied for.
Among the life insurance companies, IME Life issued shares at a premium price for the first time in Nepal. The company had issued 12 million shares at a rate of Rs 236.91 after adding a premium of Rs 136.91. In which a total of Rs. 3.74 billion worth of applications have been submitted.
Out of the total shares issued by the company, 10 percent i.e. 1.2 million shares have been distributed to Nepalis who have gone abroad for employment.
Similarly, 5% i.e. 600,000 shares were allotted to the collective investment fund and another 5% i.e. 600,000 shares were allotted to the employees of the organization and the remaining 9.6 million shares were issued to the general public.
