Narayani Development Bank to Issue 1:1 Right Share | SEBON Gives Approval
January 7, 2024 | Investopaper
Narayani Development Bank Limited (NABBC) is planning to sell right shares to the shareholders. For this purpose, Securities Board Of Nepal (SEBON) has given permission to the company on Poush 19, 2080 BS. The company hads submitted the application to the board on Bhadra 9, 2079 BS for the right issuance.
Only after the approval from the regulatory body SEBON, the company can sell the right shares.
Now, after the approval from SEBON, NABBC will issue the right shares in the ratio of 1:1. This means that, shareholders with 100 shares can apply for the additional 100 shares.
At present, NABBC has a paid up capital of Rs. 26.24 crores. Hence, the company has plans to sell 26,24,676 right shares worth Rs. 26.24 crores.
After the right issue, NABBC will have a paid-up capital of Rs. 52.48 crores.
The company had approved the agenda of issuing right share in the ratio of 1:1 from its Special General Meeting (SGM) held on Ashad 8, 2079 BS.
Global IME Capital Limited is the issue and sales manager for the right offering.
Previously, the company had sold 100 percent right shares from Poush 7 to Magh 12, 2078 BS.
Also Read: Narayani Development Bank 1:1 right share
