Asian Life Starts Auctioning Unsold Right Shares

Jun 16, 2019 Merolagani

Asian Life insurance (ALICL) has started auctioning 221,359.73 units of shares. The company is auctioning 218,939.03 units of ordinary shares and 2,420.70 units of promoter shares that went unsold during its issuance. The auction will close on June 23.

The company has appointed NIBL Ace Capital as its issue manager. The interested bidders can bid for the shares from NIBL Ace Capital at Kathmandu, Lalitpur, Pokhara, Butwal, Birgunj, Biratnagar. Moreover, the bidders can bid from branches of Nepal Investment Bank at Hetauda, Birtamode, Janakpur, Narayanghad, Dang, Nepalgunj, Surkhet and Dhangadi.

The bidders can bid for a minimum of 1000 promoter and 100 ordinary shares at a minimum price of Rs 100.

Earlier, the company issued 7,540,352.73 units of right shares at a ratio of 10:6 from April 9 to May 12 to the shareholders registered in its book till March 21.

Presently, the company has a paid-up capital of Rs 1.25 billion that will reach Rs 2.01billion after capitalization of the right issue.

In the third quarter, the company earned a net profit of Rs 54.4 million and has EPS of Rs 5.77.

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