NIMB Ace Capital appointed Issue Manager of NMIC

KATHMANDU: NIMB Ace Capital has been appointed as Issue Manager for the issuance of 2.25 million ordinary shares of Nepal Micro Insurance Company (NMIC) to the general public at a face value of Rs 100 each, pending approval from the Securities Board of Nepal (SEBON).

NIMB Ace Capital and NMIC have signed an agreement regarding the Issue Manager's services. The agreement was signed by Mrigendranath Rimal, Chief Executive Officer of NMIC, and Sachindra Dhungana, General Manager of NIMB Ace Capital.

NMIC, operating as a non-life insurance provider, aims to offer micro-insurance services to residents of low-income, underserved, and marginalised communities. The company acquired its non-life insurance licence on April 10, 2023, and has been dedicated to addressing the insurance needs of these communities since May 9, 2023.