Kathmandu. Asian Life Insurance Company Limited (ALIC) has extended the deadline to apply for right shares. The deadline for applying for 42 per cent of the right shares that the company has opened for issue and sale from July 17 has been extended. Now you can apply for the right share till July 30.
The company has issued 4.2 units of right shares equivalent to the existing 10 units of shares. According to this, the insurance company has a face value of Rs 100 per share worth Rs 1.42 billion. The company has issued 48 units of right shares.
The 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.
Infomerics Credit Rating Nepal has given IRN single A minus issuer rating to the insurance company. This indicates that the ability to bear financial obligations on time is sufficiently safe.
Muktinath Capital Limited is the issue manager of the insurance 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.
At present, the paid-up capital of the insurance company is Rs 3.39 billion. After the issue and allotment, the paid-up capital of the insurance company will reach Rs 4.82 billion.
