IME
Life Insurance Company Ltd. has submitted an application to the regulator
to issue an IPO for 60 lakh unit shares. The application was submitted on
Jestha 31 earlier this year.
IME Life Insurance has received a Care
NP BBB rating from Care Nepal rating agency for its upcoming IPO of 60 lakh
unit public shares. This rating indicates a moderate grade safety of the
agency. After floating the IPO shares, the paid-up capital of the insurance
company will scale up to Rs 2 Arba thereby restructuring the promoter-public
share structure at 70-30%.
The young life insurance company has
been providing its services with 120 branches and more than 18K plus insurance
agents spread all across the nation, as per the media statement. The life
insurance company has posted a net profit of Rs 100.13 million and published
its 3rd quarter company analysis of the fiscal year 2077/78.
Civil Capital Market has been appointed the issue manager for the proposed IPO issue.
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