Asian Life Insurance to float 50% right shares (40.27 lakh unit) right shares from Falgun 13; offer ends on Chaitra 18

Asian Life Insurance Company Limited (ALICL) will be issuing 1:0.5 (50%) right share to its shareholders from Falgun 13, 2074. As per notice published by the insurance company today, the rights issue will remain open for 35 days before closing on Falgun 18, 2074. The book closure date for the rights issue was set on Magh 8, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Magh 7, 2074 are eligible to apply for the right shares. ALICL will be issuing 40,27,966.20 units right shares at a par value of Rs 100 per unit. NIBL Capital Markets Limited is the issue manager for this right issue. Interested applicants can collect application forms from NIBL Capital Markets Limited, Lazimpath, Kathmandu, designated branches of ALICL and Nepal Investment Bank Limited (NIB) and all ASBA approved Bank and Financial Institutions (BFIs). Its paid up capital will reach to Rs 1.21 arba from existing Rs 80.55 crore after adjustment of 50% right shares. To meet the capital requirement of Rs 2 arba, it should hike its capital by Rs 79 crore (around 65%). ALICL had earned Rs 1.58 crore in the first quarter of the fiscal year 2074/75. Its LTP stood at Rs 865 as of last trading day. Announcement: