NIC Asia Bank Receives Preliminary Approval from NRB to Issue Right Shares

NIC Asia Bank Limited (NICA) has got preliminary approval from Nepal Rastra Bank to issue right shares equivalent to 50 percent of its current paid-up capital.

As per the approval, the bank will issue right shares in the ratio of 2:1, allowing shareholders to apply for one additional share for every two shares they currently hold.

The central bank granted the approval for the issuance of right shares on Baisakh 17. The proposal for the issuance of right shares will be presented at the bank’s upcoming 28th Annual General Meeting (AGM) for shareholder endorsement.

Following approval from the AGM, the bank will proceed with the issuance process after obtaining final approval from the Securities Board of Nepal.