SEBON has granted approval to issue 50% right shares for Nepal Credit & commerce bank limited on 22 Ashad 2075. The purpose of issuing right shares to hike the capital to meets capital directives of 8 arba.
The bank has received approval to issue 2:1 or 23,395,291 to its shareholders. The bank will float right share at the face value of Rs.100. The right shares will be issue soon.
Sunrise Capital has been appointed as issue manager for the right share.
Currently, its paid up capital is Rs.4.67 arba. After adjustment of 50% right share, paid up capital will reach to Rs.7.01 arba. Further bank needs to hike its capital by around Rs.99 crore to meets the capital directive by NRB of 8 arba.
