Last day to secure right shares of Asian Life Insurance

Kathmandu: Today marks the final opportunity for investors to qualify for the upcoming rights offering of Asian Life Insurance Company Limited (ALICL).

The company will close its shareholder register on May 30 for the rights issue. As a result, only shareholders listed in the company’s books by May 28—the last trading day before book closure—will be eligible to apply.

Asian Life Insurance has received approval from the Securities Board of Nepal (SEBON) to issue 42% rights shares to its existing shareholders.

With a paid-up capital of Rs 3.39 billion, the company plans to issue 14,279,312.48 units of rights shares at a face value of Rs 100 per share, raising approximately Rs 1.42 billion.

Muktinath Capital Limited has been appointed as the issue manager for this rights offering.