Kathmandu. United Ajod Insurance Company Limited is going to sell the promoter shares of Nepal Reinsurance Company Limited. The company has auctioned 2,171,935 units of shares through a sealed bidding process.

The minimum bid price of the shares has been fixed at Rs 400 per share. Applications can be place for minimum 1,00,000 units. Eligible individuals, firms, companies and organizations including the promoter shareholders of Nepal Reinsurance Company Limited will be eligible to participate in the bidding process.

The interested investors can submit bids along with the required documents to Nabil Investment Banking Limited at Naxal, Kathmandu within the deadline. Bids that do not meet the stipulated conditions and procedures will automatically be invalidated.

According to the company, all rights related to the auction process will be vested in the issue manager as per the prevailing laws.