Record-break oversubscription of Himalayan Reinsurance's IPO

Nepal Views

Kathmandu: The Himalayan Reinsurance has completed its first step of IPO issuance.

10% of the total public offering to be issued to Nepalese citizens staying abroad under foreign employment has been completed.

Out of the 30,00,000 units of shares opened for subscription under the Reserved foreign employment quota at a premium value, applications for 45,84,810 units of shares were received from 34,211 applicants.

This is a record-break oversubscription to date, with the highest application received till now being 16,90,000 units only from 30,348 applicants.

The company is overwhelmed by the trust and confidence shown to us by the public and is now even more dedicated to taking the company to greater heights.

Himalayan Reinsurance Limited distributes relief materials for earthquake victims