NIC Asia Bank Receives Approval from Securities Board to Issue 50% Rights Shares
The Securities Board of Nepal has granted NIC Asia Bank permission to issue rights shares at a 2:1 ratio, i.e., 50 percent of its current paid-up capital. The bank will issue a total of 7,45,87,835 units of rights shares with a face value of 100 rupees to its shareholders.
Kathmandu. Nepal Securities Board (SEBON) has granted permission to NIC Asia Bank to issue rights shares. The board today approved the bank to issue rights shares at a 2:1 ratio of its current paid-up capital, i.e., 50 percent.
With this approval, the bank will issue a total of 7,45,87,835 units of rights shares with a face value of 100 rupees to its shareholders. NIMB S Capital is the sales manager for the bank's rights shares.
This rights offering is expected to significantly increase the bank's paid-up capital, strengthening its capital base and supporting future expansion plans.