Premium IPO of Citizen Life Insurance opens from today, How much to apply?

Kathmandu: The Citizen Life Insurance Company Limited has unfurled its wings with the Initial Public Offering (IPO) today. The company has elevated the premium to NPR 144 from the par value of NPR 100 per share for the IPO issuance. Investors will need to contribute NPR 244 per share to apply.

With a total of 9 million shares available, the company has opened its gates to the general public, releasing shares at a premium price of NPR 244 per share. The IPO will be available for application from the 15th of Bhadra until the 19th of Bhadra.

For those aspiring to apply for a minimum of 10 shares, a sum of NPR 2,440 must be tendered. Applications for the IPO can be submitted through banks designated for IPO issuance or through associate member banks of ASBA (Applications Supported by Blocked Amount).

The company's total issued capital stands at NPR 3.75 billion, divided into 3.75 million shares, out of which 30% or 1.25 million shares were allocated for the IPO issuance, with 5% reserved for employees.

Likewise, 10% or 1.125 million shares were set aside for Nepali nationals employed in foreign employment. Following a 5% deduction for the Mutual Fund, the remaining 9 million shares were allocated for the general public.

This move signifies the company's expansion and its efforts to engage the public in its journey of growth and success.