Protective micro insurance limited is planning to issue 22,50,000 ordinary shares. To make the share issuance secure, the company has appointed Laxmi Sunrise Capital Limited as the official underwriter.
An agreement was signed between the two companies. It was signed by Bijay Lal Shrestha, chief executive officer of Laxmi Sunrise Capital, and Naresh Kumar Roka, chief executive officer of Protective Micro Insurance.
About Protective micro insurance
Protective micro insurance started as a non-life microinsurance provider on Jestha 8, 2080. From Ashad 31, 2080, the company began issuing insurance policies. The company aims to provide insurance services to communities that are usually left out. It mainly focuses on low-income and marginalized groups. At present, protective micro insurance operates in all 7 provinces of Nepal. It has 33 offices providing various non-life microinsurance services.
As per the company’s latest financial report, its earnings per share (EPS) stand at NPR 0.24, while its net worth (book value per share) is NPR 100.89.
With the upcoming ipo issue, the company hopes to expand its services and reach more people in need of insurance.
