Asian Life Insurance Rights Issue Closes Today; Issuing Over NPR 1.42 Billion Worth of Shares
Asian Life Insurance’s rights offering of NPR 1.42 billion worth of shares closes today. Investors holding shares until May 27 are eligible to apply.
Today marks the final day to apply for the rights shares issued by Asian Life Insurance Company Limited (ALICL). The company opened its rights offering on Asar 25 and is issuing 1,42,79,312.48 units of shares at a face value of NPR 100 each, totaling NPR 1.4279 billion.
The rights ratio has been set at 10:4.2, meaning shareholders with 10 shares are eligible to apply for 4.2 additional shares. The book closure for eligibility was on Jestha 16, making Jestha 14 the last trading day for entitlement on NEPSE.
The issue is rated IRN A- (Single A Minus) by Infomerics Credit Rating Nepal, indicating adequate capacity for timely financial obligations with low credit risk.
Following this issuance and allotment, ALICL’s paid-up capital will increase from the current NPR 3.39 billion to NPR 4.827 billion.
The issue manager is Muktinath Capital Limited, and applications are being accepted through the manager’s office, Muktinath Bikas Bank branches (Biratnagar, Janakpur, Pokhara, Nepalgunj, etc.), as well as Asian Life’s own branch offices. Eligible shareholders may also apply online using the Meroshare portal via C-ASBA.