Sun Nepal Life Extends Right Share Application Deadline

Kathmandu — Sun Nepal Life Insurance Company Limited has extended the deadline for applying for its 27 percent right shares, initially issued for sale from Baisakh 30 (May 13). Investors now have until Ashar 3 (June 17) to submit their applications.

The company is offering right shares in the ratio of 0.27 units for every existing share. A total of 1,696,320 right shares have been issued at a face value of Rs 100 per share, amounting to Rs 1.696 billion.

To be eligible, shareholders must have held shares traded on the Nepal Stock Exchange (NEPSE) up to Baisakh 4 (April 17), as the company’s book closure was on Baisakh 5 (April 18).

Nepal SBI Merchant Banking Limited is managing the share issuance and sale.