Asian Life insurance right share opens from today; Who can apply?

April 8, 2019 | Investopaper

Asian Life Insurance Company Limited (ALICL) is issuing 60 percent right share to its shareholders from today (Chaitra 25, 2075). The insurance company will issue 75,40,352.73 right shares worth Rs. 75.40 crores to its existing shareholders. After the issue of right shares, the paid-up capital will Rs. 2 arba which will meet the minimum paid-up capital requirement for life insurance companies. The current paid up capital stands at Rs. 1.25 arba.

The right share issue will close on Baisakh 29, 2076. NIBL Ace Capital Limited is the issue manager for the right share of ALICL.

For the 60 percent right, the book has closed on Falgun 22, 2075. So, investors holding or purchasing shares until Falgun 21, will be eligible to participate in the right issue.


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