Asian Life Insurance Auctions 3,58,512 Unclaimed Right Shares from Today
ALICL begins auction of 3.58 lakh unclaimed right shares from its 1:0.42 rights issue; bids open till Bhadra 29.
Asian Life Insurance Company Limited (ALICL) has started the auction of 358,512.48 unclaimed right shares from its previous rights offering. The auction, managed by Muktinath Capital Limited, will run from Bhadra 22 to Bhadra 29, 2082.
The auction includes 30,038.57 promoter right shares and 328,473.91 ordinary right shares left unsubscribed from the company’s 1:0.42 rights issue, which was open between Ashadh 22 and Shrawan 20, 2082.
Out of the total rights issued, 13,920,800 units (97.49%) were allotted to 27,622 valid applicants, while the remaining 2.51% (358,512.48 units) went unclaimed. These units are now available for auction to both individuals and institutions.
The minimum bid price has been set at NPR 100 per share. The minimum bid quantity is 100 units for ordinary right shares and 1,000 units for promoter right shares. Bidders can apply for the full auctioned quantity but must comply with regulatory limits that cap maximum holdings per entity.
The proceeds from the auction will contribute to strengthening Asian Life Insurance’s capital base, further supporting its growth and solvency in Nepal’s insurance sector.