Asian Life Opens 42% Rights Share Issue

Asian Life Insurance Company has opened the sale of its 42% rights shares from today (Wednesday, July 9). The company is issuing rights shares at a ratio of 4.2 shares for every 10 existing shares, totaling 14,279,312.48 units at a par value of NPR 100 per share. The total issue amounts to NPR 1.42 billion.

For the purpose of this rights issue, the company had closed its book on Jestha 16. Therefore, only shareholders who held shares until Jestha 14 are eligible to apply. The application deadline is Shrawan 13.

Infomerics Credit Rating Nepal has rated the company “IRN Single A Minus (Issuer),” indicating an adequate capacity to meet financial obligations on time.

Muktinath Capital Limited is the issue and sales manager. Shareholders can apply from Muktinath Bikas Bank branches located in Birtamod, Biratnagar, Janakpur, Narayanghat, Pokhara–Chipledhunga, Nepalgunj, Surkhet, Dhangadhi, Mahendranagar, and Butwal, as well as from the Asian Life Insurance offices.

Additionally, applications can be submitted online through the “Mero Share” platform via C-ASBA participating banks and financial institutions approved by the Securities Board of Nepal (SEBON).

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