Asian Life Insurance Company Limited (ALICL) to Issue Right Shares, FY 2080/81
Asian Life Insurance Company (ALICL) has proposed to issue 42 percent Right Shares to its shareholders after distributing dividend for last fiscal year 2079/80. The meeting of the board of directors held on 2nd Feb, 2024 has decided to propose the issuance of 42% right shares aimed at fulfilling the capital requirement. Asian Life Insurance Company is obliged to meet 5 Billion capital requirement mandated by the Nepal Insurance Authority (NIA) for life insurance companies.
The current paid-up capital of Asian Life Insurance Company (ALICL) stands at Rs. 3.15 billion which will reach to 3.39 billion after distributing 7.75 percent bonus shares for last fiscal year. In order to meet the capital deficiency of 1.61 billion, Asian Life Insurance Company plans to issue 42 percent right share which is yet to be approved by company’s upcoming AGM and Nepal Insurance Authority.
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