(ALICL) Asian Life Insurance Announces Book Closure Date for 42% Rights Offering

Asian Life Insurance Company Limited (ALICL) has officially announced the book closure date for its upcoming 42% rights share issue. The book closure has been set for 16th Jestha, 2082. Investors who own ALICL shares before 14th Jestha will be eligible to apply for the rights shares.

The insurance company is set to issue 14,279,312.48 units of rights shares at a ratio of 1:0.42, which amounts to Rs. 1.42 Arba in total value. Currently, the company’s paid-up capital stands at Rs. 1.42 Arba, and after the proposed issuance, it will rise to approximately Rs. 3.41 Arba.

Muktinath Capital Limited has been appointed as the issue manager for the rights offering.