Asian Life Insurance Opens 42% Right Share Sale

Kathmandu — Asian Life Insurance Company Limited has officially opened the sale of its 42 percent right shares starting today. The company is issuing a total of 14,279,312.48 units of right shares at a face value of Rs 100 per share, following approval from the Nepal Securities Board (SEBON).

The right shares are being offered at a 0.42:1 ratio, meaning existing shareholders will be eligible to purchase 42 shares for every 100 shares they currently own. The company had earlier closed its book for one day on Jestha 16 (May 30) to determine eligible shareholders. As such, only those listed with the Nepal Stock Exchange (NEPSE) up to Jestha 14 (May 28) can apply. The application window will remain open until Shrawan 13 (July 29).

Infomerics Credit Rating Nepal has assigned Asian Life Insurance a rating of ‘IRN A- (Single A Minus)’ for this issue, indicating that the company has a sufficient capacity to meet its financial commitments promptly.

Muktinath Capital Limited has been appointed as the issue and sale manager for the right shares. Interested applicants can apply through the capital or at designated branches of Muktinath Bikas Bank as well as through Asian Life Insurance’s own offices.

Additionally, applications can be submitted online via the ‘Mero Share’ portal through the ASBA (Application Supported by Blocked Amount) system.

Currently, the company’s paid-up capital stands at approximately Rs 3.39 billion. Upon completion of the right share issuance, the paid-up capital is expected to increase to around Rs 4.82 billion.