Asian Life Insurance to Open Bids for Unsold Right Shares on Ashwin 10

Asian Life Insurance Company Limited has announced that it will open the bids for its unsold right shares through a sealed-bid (closed tender) process.

The company had earlier issued right shares in the ratio of 1:0.42, but due to insufficient applications, 30,038.57 promoter right shares and 328,473.91 ordinary right shares remain unsubscribed. These shares are now being sold through the auction process.

Applications were invited until Ashwin 5, 2082, and all received bids will be opened on Ashwin 10, 2082 (Friday) at 8:00 AM at the office of Muktinath Capital Limited, Naxal, Kathmandu.

To ensure transparency, the company has stated that the bid opening will also be broadcast live via Muktinath Capital’s official Facebook page.

The issue and sales manager for this auction is Muktinath Capital Limited, a subsidiary of Muktinath Bikas Bank Limited.