5 investors were allotted 8,537 units ordinary shares of Asian Life; Cut-off price stood Rs 961.7

ShareSansar, July 3:

Asian Life Insurance Company Limited (ALICL) had auctioned its 8,537 units ordinary right shares and 6,075 units Promoter right share to the general public from Ashad 10 to Ashad 16, 2072. The bid was already opened on Ashad 17 (yesterday).

According to Kamal Khatri, Assistant Manager of Civil Capital Market Limited said that the company set the cutoff price for the 8,537 units ordinary shares at Rs 961.7.  The highest bid amount for the auction shares received was Rs 976. Only 5 applicants were allotted shares out of the 43 applicants who submitted their bids for 8,537 units of ordinary shares. However, the allotment module for 6,075 units promoter shares is yet to be passed by the ALICL board. The allotment will be made on Sunday, he added.

Asian Life Insurance had posted net profit of Rs.15.62 million in its third quarter company analysis of the fiscal year 2071/72.

The last traded price of ALICL stood at Rs 1,009 as on July 2.