SEBON Approves NIC Asia Bank to Issue 50% Right Shares
The Securities Board of Nepal (SEBON) has granted approval to NIC Asia Bank Limited to issue 50 percent right shares. The bank will issue right shares worth over NPR 7.45 billion at a ratio of 1:0.50. NIMB Ace Capital Limited has been appointed as the issue manager for this offering.
The Securities Board of Nepal (SEBON) has granted final approval to NIC Asia Bank Limited to issue 50 percent right shares based on its current paid-up capital. Following regulatory approval, the bank will proceed with the issuance process for its existing shareholders.
According to the approved terms, the bank will issue a total of 74,587,835 units of right shares at a par value of NPR 100 per share, maintaining an issue ratio of 1:0.50. Through this offering, the bank aims to raise a total capital of NPR 7,458,783,500 (Seven billion four hundred fifty-eight million seven hundred eighty-three thousand five hundred).
Key Issue Details:
- Eligibility: Shareholders holding 1 share are eligible to apply for an additional 0.5 share.
- Issue Manager: NIMB Ace Capital Limited
- Par Value: NPR 100 per share
This right share issuance is expected to strengthen the bank's capital base and assist in comfortably maintaining the capital adequacy ratio mandated by the regulatory authority.