Asian Life Insurance Extends Bid Submission Deadline for Auctioned Right Shares

Kathmandu — Asian Life Insurance Company has extended the deadline for submitting bids for its auctioned right shares, initially opened from Bhadra 22 (September 7). Investors can now place their bids until Ashoj 5 (September 25), according to a notice issued by the company.

The insurer said the extension was made in light of the current difficult situation in the country, allowing more investors an opportunity to participate.

The auction includes 30,038.57 units of promoter shares and 328,473.91 units of public shares, which remained unsubscribed during the company’s earlier rights issue conducted between Ashar 25 and Shrawan 20 (July 9 to August 5) at a ratio of 1:0.42.

The minimum price for the shares has been fixed at Rs 100 per unit, with investors required to bid at or above that price. Applications must be placed for at least 1,000 units from the promoter group and 100 units from the public group, while no upper limit has been imposed on maximum subscriptions.

Muktinath Capital Limited is managing the share issuance and sale. Interested investors can submit their bids through the capital as well as designated branches of Muktinath Bikas Bank across the country, including offices in Thimi-Bhaktapur, Kumaripati-Lalitpur, Birtamod, Biratnagar, Birgunj, Janakpur, Hetauda, Narayangadh, Chipledhunga-Pokhara, Baglung, Butwal, Ghorahi-Dang, Nepalgunj, Birendranagar, Dhangadhi, and Mahendranagar.