Asian Life Insurance Extends Right Share Application Deadline

Asian Life Insurance Company Limited has extended the deadline for applying to its 42% right share issuance, which began on Ashar 25. Shareholders can now apply until Shrawan 20. The company is issuing right shares in the ratio of 10:4.2, meaning existing shareholders will be eligible to apply for 4.2 shares for every 10 shares held.

In total, the company aims to raise NPR 1.42 billion by issuing 14,279,312.48 units of right shares at a face value of NPR 100 per share. The book closure date was set for Jestha 16, meaning those who held shares until Jestha 14 are eligible to apply.

The offering has been rated ‘IRN A-’ by ICRA Nepal, indicating an adequate degree of safety regarding timely servicing of financial obligations. Muktinath Capital Limited is the issue and sales manager. Applications can be submitted through Muktinath Capital and designated branches of Muktinath Bikas Bank in key cities such as Birtamode, Biratnagar, Janakpur, Narayangadh, Pokhara-Chiple Dhunga, Nepalgunj, Surkhet, Dhangadhi, Mahendranagar, and Butwal.

Additionally, shareholders can apply online via the “Mero Share” platform and the C-ASBA system through ASBA-approved banks and financial institutions. After the issuance, the company's paid-up capital will rise from NPR 3.39 billion to NPR 4.82 billion.