Asian Life Insurance Extends Deadline for Right Share Application

Kathmandu — Asian Life Insurance Company Limited has extended the deadline for applying for its ongoing rights share issuance. The application period will now remain open until Shrawan 20 (August 5) due to a lower-than-expected number of applications.

The company is issuing a total of 1,42,79,312.48 units of right shares at a face value of Rs 100 per unit, following a 1:0.42 ratio. This means shareholders are entitled to 0.42 units of right shares for every 1 unit of share they currently hold.

Only shareholders listed in the books of the Nepal Stock Exchange (NEPSE) as of Jestha 14 (May 28) are eligible to apply.

Credit rating agency Infomerics Credit Rating Nepal has assigned Asian Life an IRN Single A Minus Issuer Rating, suggesting a sufficiently safe capacity to meet its financial obligations promptly.

Muktinath Capital Limited is the designated issue and sales manager for the right shares. Applications can be submitted through Muktinath Capital or at selected branches of Muktinath Bikas Bank. The company’s head office is also accepting applications.

In addition, investors can apply online via the ‘Mero Share’ portal, using the ASBA system, available through participating banks and financial institutions licensed by the Securities Board of Nepal (SEBON) and connected to the CDS and Clearing Limited (CDSC) network.