Asian Life Insurance to Auction 358,512 Unsubscribed Rights Shares

Kathmandu — Asian Life Insurance Company has announced that it will sell its unsubscribed rights shares through an auction process. Earlier, from Ashad 25 to Shrawan 20, the company had issued 14,279,312.48 rights shares at a ratio of 1:0.42 of its paid-up capital, each share priced at NPR 100.

During the subscription period, 27,622 shareholders applied, and a total of 13,920,800 shares were allotted. However, 358,512.48 shares remained unsubscribed, which will now be put up for auction.

Among these, 30,038.57 shares belong to the promoter group, while 328,473.91 shares are from the public group. Any individual, company, or institution is eligible to participate in the auction.

Interested bidders must submit a sealed bid mentioning the desired price per share by Bhadra 29. The minimum bid requirement is 1,000 shares for the promoter category and 100 shares for the public category, with no upper limit.

Bid forms will be available at the issue manager, Muktinath Capital Limited, Naxal, Kathmandu, as well as at Muktinath Bikas Bank branch offices in Thimi, Kumaripati, Birtamod, Biratnagar, Birgunj, Janakpur, Hetauda, Narayanghat, Pokhara, Baglung, Ghorahi, Nepalgunj, Birendranagar, Dhangadhi, and Mahendranagar. Applications can also be submitted at these same locations.