Kathmandu Aug 20
Reliance Life Insurance Company and Samaj
Laghubitta Bittiya Sanstha have issued their Initial Public Offering (IPO) from
Thursday.
Reliance Life Insurance has issued 6.3
million units of shares worth Rs. 630 million and Samaj Laghubitta has issued
86,000 units of shares worth Rs. 8.6 million. The per unit price of the share
is Rs. 100.
Reliance has allocated 5 per cent or
315,000 units shares for the mutual funds, 5 per cent for its staff and the
remaining 5.67 million will be open for the public.
Likewise, Samaj has allocated 1,000 units
of shares for its staff and 4,300 units for mutual funds. Remaining 80,700
units will be sold to the public.
Public can apply for the IPO until coming
Monday, August 24. The application time can be extended to 3 September if all
the shares are not sold within the first deadline. Investors can apply for
minimum 10 units to maximum 63,000 units of shares of Reliance.
Similarly, the application limit for the
Samaj is minimum 10 units to maximum 5,000 units.
Given the trend of more than half a million
application for most of the IPOs, Samaj's IPO would be oversubscribed manifold
since only 80,7000 units are open to the public. Likewise, the investors are
likely to get only 10 units per person through lottery system.
Published in The Rising Nepal daily on 21 August 2020.
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