Sun Nepal Life Insurance has opened the auction for approximately 224,728 unsubscribed rights shares, with today, Saun 30 (Monday), marking the last day for submitting applications. The auction process began on Asar 23.
Auction Details and Application Process
Interested individuals, companies, or institutions can submit bids during banking hours today to participate in the auction. The shares offered include:
| Shareholder Group | Number of Shares Available |
|---|---|
| Founding Group | 80,222 |
| General Public Group | 144,506 |
The minimum price per share is set at NPR 100, though investors may bid at a higher price if they wish.
Applicants must submit a minimum bid for:
- At least 1,000 shares in the Founding Group
- At least 100 shares in the General Public Group
There is no maximum limit, and investors may bid for all available shares if desired.
Applications can be submitted at the Nepal SBI Merchant Banking office in Thamel, Kathmandu, or at Sun Nepal Life’s branch offices located in Kathmandu (Putalisadak), Biratnagar, Birgunj, Pokhara, Butwal, Nepalgunj, Surkhet, and Dhangadhi.
Background on Rights Share Issuance
Previously, the company opened a rights share sale for its shareholders from Baisakh 30 to Asar 3 at a ratio of 1:0.27, meaning a 27% rights share offering. A total of 1,69,63,20 (16.9 million) rights shares were issued during that period.
The shares not sold during this offering are now being sold through this auction process.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
