Kathmandu. Today is the last day to submit bids for about 2.25 lakh units of undistributed right shares of Sun Nepal Life Insurance.
The company had started selling through an auction process from July 15. In this, bids can be submitted for the purchase till today’s banking time.
The company has put on sale 224,728 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 kept 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 can bid for the share purchase at the office of Nepal SBI Merchant, the securities sales manager in Thamel, Kathmandu, and at Sun Nepal Life’s branches 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.
