Asian Life Insurance has extended the deadline for its unsubscribed rights share auction to Ashoj 5, allowing investors more time to submit bids amid the current challenging circumstances.
Asian Life Insurance has extended the period for its auction of unsubscribed rights shares. The auction, which began on Bhadra 22, will now accept bids until Ashoj 5. The company stated that the extension was granted in view of the current challenging situation in the country.
Previously, the company had issued rights shares from Asar 25 to Shrawan 20 at a ratio of 1:0.42. During this process, 30,038.57 shares allocated for founders and 328,473.91 shares for the general public remained unsubscribed and are now being sold through the auction. The minimum price for the shares has been set at NPR 100, and investors are required to bid at this price or higher.
Investors must submit bids for a minimum of 1,000 shares in the founders’ category and 100 shares in the general public category. There is no upper limit on the number of shares that can be applied for. Muktinath Capital Limited has been appointed as the issue manager for the auction. Investors can submit bids through the issue manager or via various branches of Muktinath Development Bank.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
