Citizen Life Insurance Company’s IPO was added to the SEBON Pipeline; the company will issue its IPO at a premium price.
The SEBON IPO queue now includes Citizen Life Insurance Company Limited’s initial public offering (IPO) for clearance.
The business wants to distribute 11,250,000 unit shares to the general public and its workforce. The shares will be distributed at a price of Rs. 290 per share (Rs 100 face value + Rs 190 premium price) for the general public as opposed to the company’s workers, who will receive them at a par value of Rs. 100. The business will receive Rs. 3,155,625,000 in total from the IPO issuance.
The issue advisor for the initial public offering issuing has been selected as NIBL Ace Capital. On Chaitra 5, 2079, the proposal was sent to SEBON.
The company’s share capital was Rs. 2.625 Arba as of the second quarter report of Fiscal Year 2079/80. Following the issue of the IPO, the company’s paid-up capital will amount to Rs. 3.75 Arba.
Citizen Life Insurance Company Limited’s issuer rating has been raised by ICRA Nepal to [ICRANP-IR] BBB (called [ICRANP-IR] triple B) from [ICRANP-IR] BBB-.
In terms of timely payment of financial responsibilities, such providers are thought to have a moderate degree of safety.
Citizen Life Insurance Company
A public ltd life insurance (LIC), Citizen Life Insurance Company Ltd was granted a license by the Insurance Board in August 2017 and has in operation since that time.
The company’s headquarters are in Teku, Kathmandu. The business was founded with Nepalese money by its founders, who also include high-net-worth people.
Nepalese BFIs, merchant bankers, investment management firms, insurance companies, and the media sector (Kantipur Publications Pvt. Ltd.).
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