IME Life Insurance Company Limited is called the 14th AGM on 14th Baisakh, 2079 in Radisson Hotel, Lazimpat, Kathmandu. The meeting will be starting at 11 am. The meeting will pass the IPO issuing proposal at that meeting.
The agendas of the IME Life Insurance AGM meeting are as follows:
1) Endorsement of financial reports for the fiscal year 2076/77.
2) Endorsement of annual reports presented by the chairman.
3) Appointment of auditor for the fiscal year 2077/78 and approval of their compensation.
4) Regarding BOD meeting fees and benefits.
5) Regarding the election of BOD.
6) Regarding the issuance of IPO.
7) AOB.
The company will issue the IPO of 60 Lakh units after approval of SEBON which is submitted on Jestha 31, 2078.
Civil Capital Market is appointed as the issue manager for the proposed IPO issue of the company.
Care Nepal gave a care NP BBB rating for IME life insurance IPO which indicates a moderate grade for the safety of the fund. The paid-up capital of the insurance company will scale up to Rs 2 Arba thereby restructuring the promoter-public share structure at 70-30%.
The IME life insurance company is providing its services with 120 branches and more than 18K plus insurance agents in Nepal. The life insurance company has earned a net profit of Rs 100.13 million in the 3rd quarter of the fiscal year 2077/78.
