SEBON Approves 20% Right Share of Muktinath Bikas Bank

Jul 16, 2019 03:19 PM Merolagani

Securities Board of Nepal (SEBON) has approved 20 percent right shares of Muktinath Bikas Bank (MNBBL).

The bank is planning to issue 6,129,520 units of right shares worth Rs 612.9 million to its shareholders at a ratio of 10:2. The company has appointed Vibor Capital as its issue manager.

Presently, the bank has a paid-up capital of Rs 3.06 billion that will reach Rs 3.67 billion after the right issue.

ICRA Nepal has assigned grade 3 rating to the right issue indicating average fundamentals.

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