Kathmandu-based Asian Life Insurance acquired a 49% stake in Yeti Airlines

A Nepalese insurance company has acquired a 49% stake in Yeti Airlines (YT, Kathmandu). Kathmandu-based Asian Life Insurance paid NPR1.75 billion Nepalese rupees (USD13.2 million) for the shareholding, which comes ahead of an expected IPO on the Nepal Stock Exchange (NEPSE).