Sun Nepal Life Insurance to Issue 27% Rights Shares Starting from Baisakh 30

Kathmandu – Sun Nepal Life Insurance Company Limited has announced that it will begin the issuance and sale of rights shares from Baisakh 30 (May 12, 2025). The company is set to issue rights shares equivalent to 27% of its existing paid-up capital.

This means shareholders will be eligible to receive 0.27 units of new shares for every 1 unit of existing shares they hold. In total, the company will issue 10,696,320 units of rights shares at a face value of Rs. 100 per share, amounting to over Rs. 1.06 billion.

To determine eligible shareholders, the company closed its books on Baisakh 5. Shareholders who held shares on or before Baisakh 4 are eligible to apply for the rights issue. The application period will remain open until Jestha 19 (June 2, 2025).

For this issuance, CARE Ratings Nepal has assigned CARE-NP BBB (Issuer Rating) to Sun Nepal Life, indicating moderate creditworthiness and average ability to meet financial obligations on time.

The issue manager for the rights share is Nepal SBI Merchant Banking Limited. Shareholders can apply through the issue manager, Sun Nepal Life’s central and regional offices, or via participating ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) using the C-ASBA system.

Currently, the company’s paid-up capital stands at Rs. 3.96 billion. After the successful issuance and allotment of rights shares, the capital will increase to approximately Rs. 5.03 billion.