Prabhu Mahalaxmi Life Insurance Limited has announced the sale of 1 Lakh 33 Thousand 874 units of founder shares. Two existing founder shareholders have applied to sell their portions of 33,067 and 1,00,807 units. As per regulations, priority to purchase these shares is given to the current founder shareholders of the company.
Interested existing founders must submit their applications to the company’s central office in Kamaladi, Kathmandu, within 35 days of the notice publication date (Magh 27, 2082). Applicants must fulfill the “Fit & Proper Test” criteria set by the Nepal Insurance Authority. If no current founders apply within this timeframe, the company will proceed to sell the shares to other eligible individuals or institutions.
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