Kathmandu. Sun Nepal Life Insurance is going to sell 2.25 lakh units of undistributed right shares through an auction process from July 1.
The company has put on sale 2,234,728 units of shares issued to its shareholders. Of these, 80,222 units are owned by the founding group and 144,506 units by the general group.
The minimum price of the shares has been fixed at Rs 100 per share. Investors can bid for a minimum price or more at the time of submission of bids.
Interested individuals, companies and organizations can apply for the shares to be put on sale. A minimum of 1,000 units of shares can be offered in the founder’s group, a minimum of 100 units in the general group and a maximum of 1,000 units.
Investors will be able to apply for the purchase till June 30. Applications can be submitted to the office of Nepal SBI Merchant, The Securities Sales Manager in Thamel, Kathmandu, and sun Nepal Life’s branch offices in Putalisadak, Biratnagar, Birgunj, Pokhara, Butwal, Nepalgunj, Surkhet and Dhangadhi.
The company had opened the sale of 27 per cent right shares to its shareholders in the ratio of 1:0.27 from May 27 to June 15. Accordingly, the company issued a total of 10,696,320 units of right shares at a face value of Rs 100 each.
