Premier Insurance Company Nepal Limited (PIC) has concluded FPO allotment. As per the issue manager NMB Capital limited, FPO of 659,565 units shares allotted.
Out of valid applicants of 186,475, only 65,951 applicants are allotted 10 units of share & more lucky 5 applicants are allotted with 5 units of share.
FPO was applied by 1,89,321 applicants out of which 2,846 are invalid due to mistake in DEMAT number, double application not match the criteria.
Premier Insurance had issued FPO from poush 16 to 19 2074. FPO was issued at the rate of 799 per unit (Rs.699 premium added at face value of 100).
After FPO, promoter: public ratio will be 51:49. Its paid up capital will be 51.44 crore.
Recently, PIC has proposed 13.52% stock dividend which will be get by FPO allotee shareholders also. After the adjustment of this bonus share, PIC needs to hike its capital by 41.59 crore to meets capital requirement of Beema Samiti.
As per insurance board all general insurance company needs to maintain its capital of 1 arba till ashad 2075.
