Asian Life Insurance to Auction 358,512 Units of Unallocated Right Shares

Kathmandu – Asian Life Insurance Limited has announced that it will auction 358,512 units of unallocated right shares from Bhadra 22 to Bhadra 29 (September 7 to 14).

Earlier, the company had issued right shares in the ratio of 42 percent of its paid-up capital of Rs. 3.39 billion, equivalent to 142 million units at a face value of Rs. 100 per share, amounting to Rs. 1.42 billion.

However, a total of 358,512 units remained unsubscribed, including 30,038 units from the promoter group and 328,473 units from the public group, which will now be sold through the auction process.

Muktinath Capital Limited has been appointed as the auction manager. Interested investors may submit applications through Muktinath Capital or designated branches of Muktinath Bikas Bank, including Thimi, Kumari Pati, Birtamod, Biratnagar, Birgunj, Janakpur, Hetauda, Narayangadh, Pokhara, Chipledhunga, Baglung, Butwal, Ghorahi (Dang), Nepalgunj, Birendranagar, Dhangadhi, and Mahendranagar.