Asian Life Insurance and Prime Life Insurance extend closing date for right issuance; Shareholders of 5 districts can apply till today due to yesterday’s public holiday

Mon, Apr 16, 2018 7:12 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Asian Life...

Asian Life Insurance Company Limited (ALICL) has published a notice regarding the closing date for its 50% right shares.

The insurance company had set the closing date on Baisakh 02, 2075 (yesterday). But the insurance company has set the closing date for right shares on Baisakh 03, 2075 (today) for the shareholders of Jhapa, Morang, Sunsari, Siraha and Saptari districts due to public holiday for Siruwa Parwa yesterday.

NIBL Ace Capital is the issue manager for the right share issuance.

Its paid up capital will reach to Rs 1.21 arba from existing Rs 80.55 crore after adjustment of 50% right shares. To meet the capital requirement of Rs 2 arba, it should hike its capital by Rs 79 crore (around 65%).

ALICL had earned Rs 2.58 crore in the second quarter of the fiscal year 2074/75.

Similarly, Prime Life Insurance (PLIC) has also set the closing date for its 160% right shares on Baisakh 03, 2075 (today).

The shareholders of Jhapa, Morang, Sunsari, Siraha and Saptari can apply for the right shares till today because of the public holiday in the districts due to Siruwa Parwa.

Siddhartha Capital has been appointed as the issue manager for the right issuance.

Its paid up capital will reach to Rs 1.78 arba after 160% right share and 12.50% bonus shares adjustment from existing Rs 61.02 crore. To meet the capital requirement of Rs 2 arba till the end of Ashad 2075, it should further hike its capital by Rs 22 crore (around 12 %).

It had posted net profit of Rs 11.51 crore in the second quarter of the FY 2074/75.