The Nepal Weekly 
February 17, 2025Nepal Micro Insurance Company (MNIC) issued 225,000 units of shares on February 11, 2025 for Nepali nationals residing or working abroad, who have obtained a labour permit from the relevant body of the Government of Nepal.
The company offered 225,000 units of ordinary shares at Rs 100 per share, equivalent to 30% of its issued capital of Rs 750 million. This allocation is part of a total of 2.25 million units of general shares, valued at Rs 225 million, which were made available for sale from January 21 to February 4 for Nepali migrants abroad.
Out of the 45,906 applications received, 22,500 applicants were allotted shares on February 11 at the premises of the Issuance and sale manager, NIMB Ace Capital, in accordance with the provisions of the “Securities Issuance and Bond Allotment Guidelines, 2074”.
Over the past few years, Nepal has witnessed various natural calamities, global issues, pandemic, and many ongoing issues that have hugely impacted and continue to impact the country’s economic state.
In the present context while the growth of non-life insurance industry is higher than life insurance industry, these adverse situations have affected the livelihood of many, especially the lower income citizens as the exponential growth of non-life insurance industry is due to larger contribution in this growth by mandatory vehicle insurance scheme. The contribution of other insurance coverages is very limited as compared to vehicle insurance.
