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Premier Insurance Commences FPO Issuance
2017-12-31

The company is issuing the FPO in a bid to maintain its promoter and general shareholders' ratio to 51:49.

The interested investors can apply for the FPO from December 31 to January 3. The interested investors can apply for a minimum of 10 units of shares at Rs 7,990 to a maximum of Rs 3,290 units at Rs 2,628,710 from all the ASBA registered BFIs.

The company has appointed NMB Capital as its issue manager.

Presently, the company has a paid-up capital of Rs 448.5 million. The paid-up capital will reach Rs 514.4 million after the FPO issuance.  The company has a reserve fund of Rs 461 million.

The stock is being traded at Rs 1386 in the secondary market. Given that the company has not announced any dividend for the last FY, the shareholders who own the FPO will also be entitled to receive the dividend.

source: merolagani.com,31 Dec 2017

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