Kathmandu: Securities Board of Nepal (SEBON) has granted approval to Narayani Development Bank Limited to issue rights shares.
The approval allows the bank to issue shares in a 1:1 ratio, meaning existing shareholders will be eligible to purchase one additional share for every share they currently hold.
According to SEBON, the bank has been permitted to issue a total of 2,624,677 units of rights shares, each with a face value of Rs 100. The total value of the issuance amounts to Rs 262,467,700.
The approval for the issuance was granted on 31 July.
Global IME Capital Limited has been appointed as the issue and sales manager for the rights share offering.
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