10: 3 Rights Offering of Excel Development Bank Opening Today
Mon, Oct 11, 2021 6:32 AM on Dividend, Bonus & Rights, Latest,
Excel Development Bank Limited is opening its 10:3 i.e. 30% right shares issue today. The company will open the rights issue to its shareholders from today, i.e. 25th Ashwin and will close on 14th Kartik, 2078.
This offering will raise a capital of Rs. 24,33,36,367.42 for the company. Thus, 24,33,363.67 shares will be issued. NIBL Ace Capital has been appointed the issue manager. The regulatory board approved the proposal on Shrawan 31. The company had submitted its proposal on Jestha 27 earlier this year.
Ashoj 01 was the book closure date. Thus, shareholders maintained before that day can apply for the rights issue. ICRA Nepal has assigned a BBB- issuer rating, denoting timely attainment of financial obligation and medium credit risk.
