The company is issuing 10:4.2 percent right shares to its existing shareholders. Accordingly, it will issue 14,279,312.48 units of shares at a face value of Rs 100 per unit amounting Rs 1.42 billion.
The company closed its book on May 30 for the right issue, thus, the shareholders registered in its book till May 28 (last trading day before book close) will be eligible to apply for the right issue.
Asian Life Insurance has obtained approval from Securities Board of Nepal (SEBON) to issue 42 percent right share.
Informetric Credit Rating Nepal has assigned A- rating to the issuer indicating adequate safety.
The company has appointed Muktinath Capital as issue manager. the interested investors can apply from Biratamod, Biratnagar, Janakpur, Narayangadh, Pokhara-Chipledhunga, Nepalgunj, Khrudat, Dhangadhi, Mahendranagar and Butwwal branch of Muktinath Bikas Bank as well as branch offices of Asian Life Insurance. Moreover, they can apply from all C-ASBA approved BFIs and Meroshare.
The company has paid-up capital of Rs 3.39 billion that will reach Rs 4.82 billion after the right issue.
