Lumbini General Insurance sells shares

Lumbini General Insurance Company Limited said it received a 'tremendous' response for its shares floated for the public last week. Within five days, the shares were oversubscribed by 75 times the actual cost. The Company had floated 250 thousand shares with a face value of Rs. 100 stock limiting 5 per cent to its employees and the rest to the public. The issue that opened on 24th August closed within a week with Rs. 17.7 million deposited for subscription. "We are very much inspired with the overwhelming response," chairman of the Company and the first governor of Nepal Rastra Bank Himalaya SJB Rana told a press conference Monday. "We would like to thank the investors as well as the individuals and agencies involved in the issue".

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