NCC Bank is closing its book on July 31 for the upcoming right issue, thus, the shareholders registered in its book till July 30 are eligible to apply for the right share.
As per Sunrise Capital, issue manger of the bank, the right issue will close on September 23.
The 19th AGM of the bank held on September 1, 2017, decided to issue 2:1 units of right shares of the current paid-up capital of Rs 4.67 billion. The bank sought SEBON approval for the right issue on July 6.
Presently, the bank has a paid-up capital of Rs 4.67 billion which will reach Rs 7.01 billion after the right issue. The bank is still short of Rs 990 million to meet the minimum paid-up capital of Rs 8 billion.
