Following the merger agreement with Deva Bikas, the bank had decided to withdraw the right issue, however, approval from Securities Board of Nepal (SEBON) forced the bank to issue the right shares.
The bank has appointed NIBL Ace Capital as its issue manager.
Presently, the bank has a paid-up capital of Rs 72.9 million. After the right issue, the paid-up capital will reach Rs 255.4 million.
In the second quarter of the current FY, the bank earned a net profit of Rs 5.4 million. The bank has EPS of Rs 14.89 and net worth per share of Rs 170.58.