Sun Nepal Life Opens Right Share Issue From Today

Kathmandu — Sun Nepal Life Insurance Company Limited has officially opened the public issuance of its right shares starting today, following approval from the Securities Board of Nepal (SEBON).

The company is issuing a total of 1,696,320 units of right shares at a face value of Rs 100 per share. The rights are being offered in a 1:0.27 ratio, meaning shareholders holding one ordinary share are eligible to apply for 0.27 units of right shares.

Applications for the right shares will remain open until 19th Jestha (June 2). However, only those investors who held shares traded on NEPSE until 4th Baisakh (April 17), prior to the book closure on 5th Baisakh (April 18) are eligible to apply.

Sun Nepal Life has been assigned a ‘CARE-NP BBB’ issuer rating by Care Ratings Nepal Limited, signifying an average capacity to meet financial obligations in a timely manner.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the right share issuance.