Asian Life Completes Right Share Distribution, Remaining Shares to Hit Auction

Kathmandu – Asian Life Insurance Company Limited has completed the allotment of its recently issued right shares.

Previously, the company had issued right shares in the ratio of 1:0.42 to shareholders listed in NEPSE.  Out of the total 14.2 million units offered at Rs. 100 per share, applications were received for 13.9 million units.

According to the company, the right shares were allotted to 27,622 eligible shareholders on 8th Bhadra (24 August) by sales manager Muktinath Capital Limited. Following the allotment, 3,58,512.48 units remain unsubscribed, which will now be sold through an auction process.

Asian Life also notified that refunds for the excess applications will be deposited in the respective bank accounts of shareholders from Bhadra 11 (August 27).