Crest Micro Life Insurance Plans to Issue Shares to the General Public

KATHMANDU:Crest Micro Life Insurance Limited is in the process of issuing shares to the general public.

On Bhadra  7, ICRA Nepal Limited, a credit rating agency approved by the Nepal Securities Board, issued the ICRA Double B  rating. 

According to ICRA Nepal, such a rating indicates that a company is moderately safe in terms of completing its financial obligations on time.

In addition, the business has selected RBB Merchant Banking Limited and RBB Mutual Fund 1 as share underwriters for the primary public offering of securities to the general public.

The company's issued capital is Rs. 75,00,000/. As part of its public offering, the company expects to issue 22,50,000 ordinary shares for Rs. 22.5 crore.

According to the Companies Act of 2063, it was registered as a public company on Poush 13th, 2079, at the Registrar of Companies' office.

The company currently provides services through 23 branches and sub-branch offices.