Nepal Micro Insurance Completes Share Allotment

Nepal Micro Insurance Completes Share Allotment

Nepal Micro Insurance Company Limited has completed the allotment of 225,000 ordinary shares issued for Nepalis working abroad on Magh 29, 2081. The company had allocated 10% of its total 2,250,000 ordinary shares for Nepalis with approved labor permits. The issuance was open from Magh 8 to Magh 22, receiving a total of 45,906 applications. However, as per regulations, shares were allotted to only 22,500 applicants. The allotment process was conducted at the premises of NIMB Ace Capital Limited, the issue manager, according to the company's statement.