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Union Life Insurance Company Limited IPO Date

Union Life Insurance Company Linited

IPO Share Details


Union Life Insurance Company Limited has issued an initial public offering (IPO) to the public from 8th July 2021 to 12th July 2021. The company has issued 6.45 million shares equal to Rs 645 million, which is 30 percent of the total issued capital of Rs 2.15 billion.



Union-Life-Insurance-Company-Limited-IPO

Of that, 5 percent or 322,500 shares have been secured for employees and another 5 percent for collective investment funds and the remaining 58.5 million shares have been sold to the public.

In the IPO of Union Life Insurance, applications can be submitted as soon as possible till July 12 and if there are not enough applications within that period, applications can be submitted till July 20. At the rate of Rs. 100 per share, applications can be made for a minimum of 10 units and a maximum of 32,250 lots in multiples of 10 points.

C-ASWA members, licensed by the Securities and Exchange Board of Nepal (SEBON), can also apply for IPOs through banks and financial institutions and through Meroshare's web and app.

Prabhu Capital Limited is the IPO issuer and sales manager of Union Life Insurance. The guarantor is Nabil Investment Banking Limited.

At present, the company's paid-up capital is Rs 1.5 billion. After the IPO, the company's paid-up capital will reach Rs 2.15 billion.

Rating agency ICRA Nepal has given ICRP-IR Triple B rating to the IPO to be issued by Union Life Insurance. This indicates an average risk in the company's ability to bear responsibility.

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