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SEBON Approves 50% Right Share Issuance of NIC Asia Bank Worth Rs 7.45 Billion

The Securities Board of Nepal (SEBON) has granted preliminary approval to NIC Asia Bank Limited to issue 50 percent right shares at a 1:0.50 ratio. The bank will issue 74,587,835 shares worth Rs 7.45 billion at a face value of Rs 100 per share.

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SEBON Approves 50% Right Share Issuance of NIC Asia Bank Worth Rs 7.45 Billion

The Securities Board of Nepal (SEBON) has granted preliminary approval to NIC Asia Bank Limited to issue 50 percent right shares to its existing shareholders. According to the approval granted on Kartik 17 under the fiscal year 2083/84, the bank will issue right shares at a ratio of 1:0.50, meaning shareholders will receive one additional share for every two shares they currently own. Under the proposed issuance, NIC Asia Bank will float a total of 74,587,835 right shares at a face value of Rs 100 per share. Through this issuance, the bank aims to raise Rs 7.458 billion in additional capital. NIMB Ace Capital Limited has been appointed as the issue and sales manager for the right share issuance. The decision has been approved by SEBON's Board of Directors, and the formal approval letter is in the process of being issued. Following receipt of the official letter from the regulator, the bank will announce further details, including the issuance date, book closure date, and application procedures. The proposed right share issuance is expected to strengthen the bank's capital base and provide additional financial resources.

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