Asian Life Insurance selling 2,21,359.73 units unsold right shares via auction from today; LTP stands at Rs 395

Asian Life Insurance Company Limited (ALICL) is selling its unsold 2,21,359.73 units of unsold right shares via auction.

As per the notice published by the insurance company today, the company will be auctioning 2,420.70 units promoter shares and 2,18,939.03 units ordinary shares from Ashadh 1-8, 2076. NIBL Ace Capital Limited has been appointed as the issue manager for the auction.

Interested bidders can obtain the application form from NIBL Ace Capital Limited, Kathmandu and its branch office Lalitpur, Pokhara, Butwal, Birgunj, Biratnagar, and also from branch office of Nepal Investment Bank Limited outside the valley i.e Hetauda, Birtamode, Janakpur, Narayanghad, Dang, Nepalgunj, Surkhet and Dhangadi. The application form can be obtained at Rs.100 per form.

The applicants can bid for minimum 1000 units for promoter shares and 100 units for ordinary shares at a minimum price of Rs.100 per share. The bid amounts can be deposited in the name of NIBL Ace Capital Limited at Kumari Bank Limited, Putalisadak, Kathmandu branch A/C No. 001000657700004 or can issue “Good for Payment” cheque in the name of NIBL Ace Capital Limited

Asian Life Insurance has recently issue 60% right shares to its shareholders. The current paid up capital of the company is Rs 1.25 Arba which will cross Rs 2 Arba after the right shares and completion of auction process.

The last trading price of the company stands at Rs 395.