Protective Micro Insurance issued IPO shares

KATHMANDU:Protective Micro Insurance Limited has announced its plan to issue  ordinary shares to the general public. 

The company stated that Nepal SBI Merchant Banking Limited and Nabil Investment Banking Limited will jointly provide the share purchase guarantee service.

The 2,250,000 ordinary shares will be issued at NPR 100 per share, for a total call of NPR 22,50,00,000. 

Nepal SBI Merchant Banking Limited and Nabil Investment Banking Limited have been appointed as underwriters.

Mr. Lekhnath Pokhel, Managing Director and CEO of Nepal SBI Merchant Banking Limited, Mr. Manish Narayan Joshi, CEO of Nabil Investment Banking Limited, and Mr. Naresh Kumar Roka, CEO of Protective Micro Insurance Limited, signed a tripartite agreement.

Nepal SBI Merchant Banking Limited is the wholly-owned subsidiary of Nepal SBI Bank Limited. After receiving a license from the Nepal Securities Board, it began offering investment management, securities issuance and sales management, securities purchase guarantee, beneficiary account management, institutional consulting, and share registrar services.

Similarly, Protective Micro Insurance is a non-life insurance company having its main office in Dhangadhi, Kailali district, Sudurpaschim Province.