Kathmandu. Asian Life Insurance Company Limited is going to open the issue and sale of right shares from Today. The company is issuing 42 percent of the existing paid-up capital i.e. 10 units of new 4.2 units of right shares.
Accordingly, the company will issue 14,279,312.48 units of right shares with a face value of Rs 100 per share worth Rs 1.42 billion.
The insurance company had closed the book for the purpose of issuing the right shares on May 15. According to this, the shareholders who have been traded in NEPSE till May 15 can apply for the right share. Applications can be made for the right shares of the insurance company till July 30.
Infomerics Credit Rating Nepal Limited has upgraded from ‘IRN A minus (issuer rating)’ to ‘IRN A (issuer rating)’ rating. Such a rated company has adequate guarantees to meet its financial obligations on time.
Muktinath Capital Limited is the issue manager of the company. The shareholders can apply from muktinath bikas bank’s Birtamod, Biratnagar, Janakpur, Narayangadh, Pokhara-Chipledhunga, Nepalgunj, Surkhet, Dhangadhi, Mahendranagar and Butwal branch offices as well as asian life insurance offices.
Similarly, banks and financial institutions participating in the ASWA service with permission from the Securities Board of Nepal and the software ‘Mero Share’ created by CDS and Clearing can also apply online through the CASWA system.
The current paid-up capital of the company is Rs 3.39 billion with an authorised capital of Rs 6 billion.
The board of directors of the company is in the financial year 2080. It has been decided to distribute 5.3684 percent dividend along with 5 percent bonus share and cash dividend from the profit of Rs 81. Shareholders will receive bonus shares after the company’s next general meeting approves the proposal for dividend distribution.
