Excel Development Bank Starts Issuing Right Shares from Today

Oct 11, 2021 08:23 AM Merolagani

Excel Development Bank (EDBL) has started issuing right shares from today, October 11.

The bank is issuing 10:3 right shares to its existing shareholders. The bank will issue 2,433,363.67 units of shares worth Rs 243.3 million.

The bank closed its book on September 17 for the right issue thus, the shareholders registered in its book till September 16 are eligible to apply for the right shares.

The bank has appointed NIBL Ace Capital as its issue manager.

The interested existing shareholders can apply for the right shares from all ASBA approved BFIs and meroshare software. Moreover, they can apply from NIBL Ace Capital and all branches of Excel Development Bank.

ICRA Nepal has assigned BBB- rating to the issue indicating moderate risk.

The bank has current paid-up capital of Rs 811.1 million that will reach Rs 1.05 billion after the right issue.

 

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