Nepal Re-insurance to float 16 million units share

August 24: Nepal Re-insurance Company Ltd has appointed RBB Merchant Banking Ltd as its issue manager to float 16 million units of share to the general public at the rate of Rs 100 per share.

Issuing a press statement, the company said that its chief executive officer (CEO) Chirayu Bhandari and his counterpart from RBB Merchant Banking Ramesh Kumar Bhandari signed the agreement for issuance of the share.

After issuing shares to the public, the total paid-up capital of the company will reach Rs 10 billion. Currently, the total paid-up capital of the company stands at Rs 8.40 billion, and the authorized capital stands at Rs 15 billion.