Premier Insurance Company Nepal Limited (PIC) has allocated its 6,59,565 units Further Public Offering (FPO) shares worth Rs 526.9 million (Rs. 52.69 crores) today Thursday morning at 9:00 AM in the premises of the insurance company's head office in Naxal, Kathmandu. According to NMB Capital Limited, the issue manager of the FPO, out of 1,86,475 valid applicants, only 65,951 applicants have been allotted with a minimum of 10 unit mandatory shares through the lottery system and 5 lucky applicants have been allotted with 11 unit shares.
Of the total 1,89,321 applications, there were 2,846 applicants that were canceled due to double applications, mistakes in Demat account numbers and applications made for more or less than mentioned kittas. Nearly 123,370 applicants were unable to receive the FPO. The FPO was issued about a month ago from Sunday 31st December 2017 to Wednesday 3rd January 2018 (16 to 19 Paush 2074) at Rs 799 per unit including Rs 699 premium added to the par value of Rs 100.
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