Kathmandu. Asian Life Insurance Company Limited (ALIC) is going to issue right shares from July 15. The company is issuing 42 percent right shares.
The company has received approval from the Securities Board of Nepal to issue a total of 14,279,312.48 units of right shares at a face value of Rs 100 per share.
The company will collect Rs 1.42 billion from the issue of right shares.
The company has already closed the book for issuing right shares for one day on May 15. Therefore, only the shareholders of The Nepal Stock Exchange (NEPSE) can apply for this right share till May 31. The last date for submission of applications is July 15.
Infomerics Credit Rating Nepal has given Asian Life an IRN single A minus issuer rating. This indicates that the ability to bear financial obligations on time is sufficiently safe.
Muktinath Capital Limited is the issue manager of the company. Applicants can apply from muktinath bikas bank’s Birtamod, Biratnagar, Janakpur, Narayangadh, Pokhara-Chipledhunga, Nepalgunj, Khurdet, Dhangadhi, Mahendranagar and Butwal branch offices and Asian Life offices.
Similarly, banks and financial institutions participating in all aswa services approved by the Securities Board of Nepal and CDS and Clearing can also apply through the CASWA system using ‘My Share’ online.
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