Sun Nepal Life Insurance Extends Rights Share Application Deadline Until Asar 3

Kathmandu — Sun Nepal Life Insurance Company Limited (SNLI) has extended the deadline for applying to its rights share issue, which was opened for subscription on Baisakh 30. Investors can now apply until Asar 3, following the company's decision to extend the timeline.

The insurer is offering 27% rights shares, meaning shareholders can apply for 0.27 shares for every 1 share they currently hold. In total, the company is issuing 10,696,320 units of rights shares at a face value of NPR 100 per share, amounting to a total value of approximately NPR 1.07 billion.

The company announced a book closure on Baisakh 5, meaning only those who held shares until Baisakh 4 are eligible to apply for the rights shares.

Care Ratings Nepal has assigned CARE-NP BBB (Triple B) Issuer Rating to the company for this rights issue. This rating indicates a moderate degree of safety regarding timely servicing of financial obligations.

Where to Apply:

• Through the issue manager: Nepal SBI Merchant Banking Limited

• At Sun Nepal Life's central and regional offices

• Via C-ASBA system from banks and financial institutions approved by the Securities Board of Nepal (SEBON)

Sun Nepal Life's current paid-up capital is NPR 3.96 billion. After the allotment of the rights issue, the paid-up capital will increase to NPR 5.03 billion.

This rights issue is expected to strengthen the company’s capital base and support its future expansion. The company has urged all eligible shareholders to apply within the extended deadline.