(ALICL) Asian Life Insurance to Issue 42% Right Shares from Ashadh 25

Asian Life Insurance Company Limited is set to issue 42% right shares starting from Ashadh 25. The company has already received approval from the Securities Board of Nepal (SEBON) to issue the shares at a 1:0.42 ratio based on its current paid-up capital.

Accordingly, the company will be issuing a total of 14,279,312.48 right shares at a face value of NPR 100 per share.

For the purpose of this issuance, the company had already conducted its book closure on Jestha 16. Therefore, only shareholders who held shares until Jestha 14 will be eligible to apply for the right shares. The application period will remain open until Shrawan 13 during banking hours.

The company's current paid-up capital stands at NPR 3.39 billion. After the right share issuance, it will increase to NPR 4.82 billion.

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