Bids for Unsold Sun Nepal Life Right Shares to Be Opened Friday

Kathmandu – Sun Nepal Life Insurance Limited is set to open bids for 224,728 unsold right shares that were recently offered through an auction. According to the issue manager, Nepal SBI Merchant Banking Limited, the bids will be opened on Friday at 8 AM at Amritbhog Party Palace in Dillibazaar, Kathmandu.

The insurance company had earlier issued 10,696,320 units of right shares at a face value of Rs 100 per unit in the ratio of 1:0.27. The rights offering was open from Baisakh 30 to Ashar 3 for shareholders who held shares until Baisakh 4.

However, only 1,471,592 units were subscribed during the issuance period, leaving 224,728 units unsold. To ensure broader public participation and full subscription, the company initiated an auction of the remaining shares from Ashar 23 to Ashar 30.