Kathmandu-
Star Micro Insurance Limited is set to issue an Initial Public Offering (IPO). The company plans to sell 30 percent of its capital, which amounts to 2.52 million shares worth NPR 225 million, making it available to the public.
NIMB Ace Capital has been appointed as the transaction and securities issuance manager. The IPO will be available to the public at NPR 100 per share.
Star Micro Insurance Limited, a licensed insurance company, provides non-life microinsurance services to newly formed businesses and individuals from marginalized communities across various regions of the country.
The agreement between the two companies was signed on Bhadra 9, with CEO Bishwo Ram Timila representing Star Micro Insurance Limited and General Manager Sachindra Dhungana representing NIMB Ace Capital Limited.