Sun Nepal Life Insurance Company Limited (SNLI) has initiated the auction of its unallocated right shares, which consist of 80,222 promoter shares and 144,506 common shares, starting today from Ashadh 23 to Ashadh 30, 2082.
The rights were originally offered in a 1:0.27 distribution ratio, amounting to 10,696,320 units of right shares from 30th Baisakh to 3rd Ashad, yet the specified units remained unsubscribed. In compliance with current regulations, including Directive No. 21 of the Securities Registration and Issuance Regulation 2073, the company has decided to auction these shares through confidential bidding.
Those interested, whether individuals, corporations, or organizations, may present sealed offers within the designated timeframe. The lowest bidding price per share has been established at Rs. 100.
For promoter shares, a minimum application of 1,000 units is required, while ordinary shares necessitate a minimum of 100 units. Applications for promoter shares can be submitted for a total of up to 80,222 units, whereas ordinary shares can be applied for up to 144,506 units, adhering to the individual caps set by the Insurance Board.
