NIC ASIA Bank Appoints NIMB ACE Capital as Rights Share Issue Manager

NIC ASIA Bank Limited has appointed NIMB ACE Capital Limited as the issue and sales manager for its upcoming rights share issuance in the ratio of 2:1.

Following approval from the Nepal Rastra Bank, the bank plans to issue 74.58 million rights shares at a face value of Rs 100 per share, amounting to 50 percent of its existing paid-up capital of Rs 14.91 billion.

The issuance process will move forward after securing remaining regulatory approvals and completing other required procedures.

According to the bank, the funds raised through the rights offering will be used to strengthen its capital structure, improve the capital adequacy ratio, and support long-term business expansion and strategic growth plans.

The agreement regarding the rights share issuance was signed by Rupesh Luite, Chief Financial Officer of NIC ASIA Bank, and Sachindra Dhungana, Deputy Chief Executive Officer of NIMB ACE Capital, representing their respective institutions.