June 13, 2021 | Investopaper
Excel Development Bank Limited (EDBL) is in the process of issuing the right shares to the shareholders. The company plans to sell the right shares in the ratio of 10:3. This means that the shareholder with 100 shares can apply for the 30 right shares.
The development bank has submitted the application to the Securities Board of Nepal (SEBON) on Jestha 27, 2078 BS for the issuance of right shares. Only after receiving approval from SEBON, the company can float the shares.
For the purpose of right offering, the bank has appointed NIBL Ace Capital as the issue and sales manager.
The company will issue 24.33 lakh right shares at a par value of Rs 100. Hence, the total right issue amounts to Rs 24.33 crores.