Kathmandu. Narayani Development Bank Limited is going to open the issue and sale of right shares from October 15. The bank is issuing 100 percent of the existing paid-up capital i.e. in the ratio of one unit of new one unit equal to the existing one unit share of the bank.
Accordingly, the bank will issue 2,624,676 units of right shares worth Rs 262,467,600 with a face value of Rs 100 per share.
The bank had closed the book for the purpose of issuing the right shares on August 15. According to this, the shareholders who have been traded in NEPSE till August 15 can apply for the right shares.
ICRA Nepal has given iCRA NP Issuer Rating C+ to the bank in the rating for the right issue. This indicates that there is a very high risk in the ability to bear financial obligations on time.
Applications can be made for the right shares of the bank till October 30.
Global IME Capital Limited is the issue manager of the bank. Investors can apply from global IME Bank’s Bhumahi, Nawalparasi branch office and Narayani Development Bank’s central office, Yagyapuri branch, Tandi branch, Parsa branch and Narayangadh branch office.
Similarly, banks and financial institutions participating in the ASBA service can apply online by taking permission from the Securities Board of Nepal and using the software ‘Mero Share’ created by CDS and Clearing Limited online.
At present, the paid-up capital of the bank stands at Rs 262.46 million.
