Jun 17, 2024

Muktinath Capital on issue of rights shares of Asian Life Insurance

Muktinath Capital on issue of rights shares of Asian Life Insurance

KATHMANDU:Asian Life Insurance Company Limited plans to issue right shares. Muktinath Capital Limited will serve as the company's share issuing and sales manager. Dinesh Lal Shrestha, CEO of Insurance, and Kabindra Dhoj Joshi, CEO of Muktinath Capital, signed the agreement for the share offering. Muktinath Capital is a subsidiary of Muktinath Bikas Bank.

The insurance business will issue 1,42,79312 right shares at a ratio of 1:0.42, representing 42% of the current paid-up capital approved by the 16th Annual General Meeting. After the rights issuance, the company's paid-up capital is expected to be 4,82,77,67,556.

As of the third quarter of this year, the company's life insurance fund was more than 41 billion rupees. Similarly, during the same period, the company reported earning a total of 5 billion 78 crores 54 lakh in insurance fees, with a first insurance fee of 1 billion 20 crores 61 lakh and a renewal insurance fee of 4 billion 57 crores 92 lakh.

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