Kathmandu. Narayani Development Bank limited has decided to issue 100 percent right shares to its shareholders.
A meeting of the bank’s board of directors held on Wednesday decided to close the book on August 14 for the purpose of issuing rights. This means that the shareholders will be able to fill the right shares of this bank till August 15.
The Securities Board of Nepal (SEBI) had on July 12 allowed Narayani Development Bank to issue 100 per cent right shares in the ratio of 1:1. The bank will now issue a total of 2,624,677 units of right shares worth Rs 262,467,700 to its shareholders at a face value of Rs 100 each.
After the sale of the right shares, the paid-up capital of the bank will reach Rs 524.9million. Global IME Capital is the right share sale manager of the bank.
