Asian Life Insurance Allots Unallocated Right Shares Through Auction

Kathmandu – Asian Life Insurance Company Limited has completed the allotment of unallocated right shares put up for sale through an auction process conducted from Bhadra 22 to Ashoj 5 (September 7 to 21).

The company had offered 30,038.57 units of unallocated right shares for the founder group and 328,437.91 units for the general group. Confidential sealed bids received during the sale period were opened on Ashoj 10 (September 26) and subsequently allotted on Ashoj 20 (October 6) by the board of directors of Muktinath Capital Limited, the company managing the sale.

The final allotment price, or cutoff price, has been fixed at Rs. 105.50 for the founder group and Rs. 422.50 for the general group. The company clarified that the allotment was made proportionally based on the relative weight of bids submitted at the cutoff price.

Asian Life Insurance further informed that the amount for applicants who did not receive an allotment will be refunded to their bank accounts from today.