NIC Asia Bank Set for Massive Capital Expansion: Central Bank Approves 50% Right Share Issue!
NIC Asia Bank has received preliminary approval from Nepal Rastra Bank to issue 50% right shares to its shareholders. The proposal will be presented at the upcoming 28th Annual General Meeting for final endorsement before proceeding to the Securities Board of Nepal.
NIC Asia Bank Limited (NICA) has obtained preliminary approval from Nepal Rastra Bank (NRB) to issue 50 percent right shares. The bank received the go-ahead to issue new shares in a 1:0.5 ratio, meaning shareholders can apply for one new share for every two shares they currently hold.
NRB granted the pre-approval on April 29, 2024 (Baishakh 17). The special proposal regarding this right share issuance is scheduled to be presented at the bank's upcoming 28th Annual General Meeting (AGM). The formal issuance process will move forward once the proposal is passed by the AGM and receives final approval from the Securities Board of Nepal (SEBON).