The company is issuing the right shares of the paid-up capital maintained after distribution of 4 percent bonus share in a bid to meet the minimum paid-up capital of Rs 2 billion by the end of the current FY.
The insurance company that issued 50 percent right shares few months back only has paid-up capital of Rs 1.25 billion after 4 percent bonus share distribution.
The company is planning to issue 60 percent right shares worth Rs 754 million to its existing shareholders. After the right issue, the paid-up capital will reach Rs 2.01 billion.
The insurance company is also planning to increase its authorized capital to Rs 5 billion from Rs 2 billion. The company has Rs 12.09 billion in life insurance fund and Rs 12.28 billion in investment and loans.
Similarly, the company earned Rs 2.16 billion in premium.
Asian life is providing its services through 28 branches and 69 sub-branches.
