3 million people will definitely get 3 billion IPO, when?
Himalayan Reinsurance has passed a proposal to issue an IPO to the public. The first annual general meeting of the insurance company passed a resolution to issue an IPO.
The meeting also approved the proposal to expel the IPO as well as the election of directors and appointment of independent directors.
Similarly, proposals have also been passed to authorize the board of directors to amend the management letter and rules of the company and to support the appointment of auditors.
The company, which has a paid-up capital of Rs 10 billion, has not disclosed about the issuance of 30 million IPOs worth Rs 3 billion at the general meeting. Himalayan Re is Nepal’s second reinsurance company. The company got the license from the Insurance Committee last July.