General Insurance Co Nepal (GICN) has designated NIBL Ace Capital as its issue manager for initial public offering (IPO) of three million of its shares at Rs 100 per unit.
As per a media report, SK Tamot, general manager of GICN, and Mekh Bahadur Thapa, deputy chief executive officer of NIBL Ace Capital signed a pact in this regard, concerning their organizations.
GICN’s present paid-up capital stands at Rs 700 million, which will reach Rs one billion after issuance of the IPO. The company started its operation on February 7, 2018. Its head office is located at Hattisar and has been providing insurance services through 37 branch offices and 10 third-party insurance counters.