Asian Life Insurance gets approval from SEBON to issue 60% right shares; company to float more than 75 Lakh units soon

Securities Exchange Board of Nepal (SEBON) has approved the proposed right share of Asian Life Insurance Company Limited.

The life insurance company is looking to issue right shares in the ratio of 1:0.6 or 60% at par value. The company will be issuing 7,540,352.73 units as right shares to raise a capital worth Rs.75.40 Crore.

NIBL Ace Capital Limited has been appointed as the issue manager.

The current paid up capital of the company is Rs.1.25 Arba which will cross Rs.2 Arba after the proposed issue of right shares.