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    Nepal Stock ExchangeRight | Bonus | DividendThe Narayani Development Bank's proposal for rights has been approved by the...

    The Narayani Development Bank’s proposal for rights has been approved by the SEBON (NABBC)

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    The regulatory board of the Narayani Development Bank Limited (NABBC) has given its approval for the bank to issue the appropriate shares to its customers.

    To issue rights shares in a one-to-one ratio, the business had submitted an application to the Securities Board of Nepal. A total of 13,12,338 shares would issued as a result of the application, which was submitted to the regulator on Ashad 04, 2018.

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    The proposal to issue 1:2 right shares was approved during the company’s 19th Annual General Meeting, which was place on Magh 16, 2077. According to the plan, the right shares would issued on a Rs. 13,12,33,800 paid- capital base. As a result of the central bank’s letter of approval, dated Jestha 20, the development bank was given permission to issue the right shares in a one to one ratio. When opposed to the company’s expectation of tripling paid-up capital, this will only double it.

    The rights offering will managed by Global IME Capital, which has as the issuer. Since previous night, the closing price of NABBC has been Rs. 866 per share.

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