Last Day to Apply for Sun Nepal Life Insurance Right Shares

Kathmandu – Today marks the final day for shareholders of Sun Nepal Life Insurance Company Limited to apply for the company’s ongoing right share offering, which has been open to the public since Baisakh 30 (May 13).

The company received approval from the Nepal Securities Board to issue a total of 1,696,320 units of right shares at a face value of Rs 100 per share. The offering is being made in the ratio of 1:0.27, meaning that shareholders are eligible to apply for 0.27 units of right shares for every 1 unit of ordinary share they hold.

The application window will close after the end of banking hours today. Only those shareholders who traded shares on or before Baisakh 4 (April 17) are eligible to participate in the offering.

Sun Nepal Life Insurance holds a ‘Care-NP Triple B’ issuer rating from Care Ratings Nepal Limited.  The issuance is being managed and underwritten by Nepal SBI Merchant Banking Limited, which is overseeing the entire process of rights issuance and sale.