Asian Life Insurance Extends Rights Share Application Deadline to August 4

Asian Life Insurance Company Limited has extended the deadline to apply for its ongoing rights offering. Originally, applications were to be accepted only until Tuesday, July 29 (Shrawan 13), but due to insufficient applications, the deadline has been extended to August 4 (Shrawan 20).

The company received approval from the Securities Board of Nepal (SEBON) to issue 42% rights shares at a 1:0.42 ratio of its current paid-up capital. Accordingly, it is offering a total of 14,279,312.48 shares at a par value of NPR 100 per share.

For this purpose, the company had already conducted a book closure on Jestha 16. Only shareholders who held shares until Jestha 14 are eligible to apply for the rights shares.

Currently, the company’s paid-up capital stands at NPR 3.39 billion. After the rights issue, it will increase to NPR 4.82 billion.

Muktinath Capital Limited is the issue and sales manager for this rights offering. The company has urged eligible shareholders to apply within the extended deadline.