There are more than 2.4 million persons who have applied to participate in the Sanima Life Insurance Company’s initial public offering (IPO).
According to the company, the number of applications received exceeded the number of requests by a factor of 6.84.
300,000 shares have been reserved for employees, and another 300,000 shares have been reserved for collective investment funds out of the total number of shares issued by the corporation. The remaining 5.4 million shares have been applied for by the general public.
Because the number of applications received surpassed the demand, the company’s initial public offering (IPO) will be dispersed in a round-robin fashion.