Sun Nepal Life Insurance has placed 224,728 shares for auction after under-subscription in its recent rights issue. The bid opening for these shares will take place on Friday, Asar 18.
Sun Nepal Life Insurance Limited has scheduled the opening of bids for the auction of 224,728 shares tomorrow, Friday, Asar 18. These shares have been put up for auction after insufficient subscription during the company’s recent rights issue.
According to the sales manager, Nepal SBI Merchant Banking Limited, the bid opening will occur at 8:00 AM at Amritbhog Party Palace in Dillibazar.
Earlier, the company had issued a total of 1,696,320 rights shares on the basis of 0.27 shares per existing share at NPR 100 per share, which was open to existing shareholders until Baishakh 4.
The subscription period for the rights shares was from Baishakh 30 to Asar 3. However, only 1,471,592 shares were applied for during this time.
The remaining 224,728 shares have now been placed in auction to allow purchase by any interested parties. The company is preparing to open bids for these shares accordingly.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
