The bank is issuing 2,624,676 units of right shares worth Rs 262.4 million at a ratio of 1:1 to its existing shareholders.
The bank closed its book on August 25 for the right issue, thus, the shareholders registered in its book till August 24 will be eligible to apply for the right share.
ICRA Nepal has assigned C+ rating to the issuer indicating high risks.
The company has appointed Global IME Capital as issue manager. The interested existing shareholders can apply from the issue manager as well as Bhumahi, Nawalparasi branch of Global IME Bank, Headoffice, Yagyapuri, Tandi, Parsa and Narayangadh branch of Narayani Development Bank. Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the bank has paid-up capital of Rs 262.4 million which will reach Rs 524.9 million.
