Sanima General Insurance IPO

Sanima General Insurance IPO:

Sanima General Insurance has received permission from the Securities Board of Nepal (SEBON) to issue 300 million primary shares (IPO) to the public.

The Securities and Exchange Board of Nepal (SEBON) on Monday allowed the company to issue 3 million IPOs worth Rs 300 million at a face value of Rs 100.

The company has been allowed to issue 3 million IPOs, equivalent to 30 percent of its existing capital, or Rs 300 million. The company's paid-up capital will reach Rs 1 billion after the IPO.

The company's IPO will be issued by NIC Asia Capital.

Sanima General Insurance's proposal to issue an IPO was passed by the general meeting held on January 8.

Care Rating Nepal has given a 'Care NP BB Plus' rating to the IPO that the company is about to launch. The rating indicates that the company's financial position is moderate.