Asian life Insurance to auction 98,246 units unsold right shares from today ; LTP Rs 769

98,246 units ordinary shares auction of Asian Life Insurance is commencing from today. The auction is scheduled to close on 17th Jestha, 2075. 

NIBL ACE Capital will be managing the auction.

Interested bidders can bid for minimum 100 units at a price Rs 100 or more. Payment procedure should be as prescribed in the forms. The forms can be submitted in NIBL ACE Capital, Lazimpat, Kathmandu. Or in its different branches in Kathmandu, Pokhara, Butwal, Birgunj and Biratnagar. Forms can also submitted in branches of Nepal Investment Bank in Nepalgunj, Narayanghat, surkhet and Dhangadi.

The company had floated 50% right shares from 13th Falgun, 2074 to 3rd Chaitra, 2075. The unsold right shares at that time are now being auctioned. 

After the capitalization of 50% right shares, Asian life Insurance will have a paid up capital will reach Rs 1.20 arba. The Life Insurance company needs to raise its paid-up capital to Rs 2 arba, as per the Insurance board directive.