January 26, 2022 | Investopaper
After the previous issue of 1:1 right share, Narayani Development Bank Limited (NABBC) is currently selling the right shares to its shareholders from Poush 7, 2078 BS. The company will close on the right issue on Magh 12, 2078 BS. Previously, the right issue was set to close on Poush 27, 2078 BS. However, only 19 percent of the right share was subscribed during that period.
NABBC closed the shareholders’ registration book on Mangsir 24, 2078 BS. Therefore, the investors purchasing the shares of NABBC until Mangsir 23 will be eligible to apply for the right shares.
The company is issuing the right share in the ratio of 1:1. As of Ashad’s end 2078 BS, the development bank has a paid-up capital of Rs 13.12 crores. Hence, the company will float 1,312,338 shares in the right offering that amounts to Rs 13.12 crores.
Securities Board Of Nepal (SEBON) had granted approval to the company on Mangsir 3, 2078 to issue the right shares. The company had submitted an application to SEBON on Ashad 4, 2078 BS for the right issuance.
Global IME Capital Limited has been appointed as the issue manager for the public issue.
After the right issue, the capital of Narayani Development Bank will rise to Rs 26.24 crores (if fully subscribed).