Adjusted price for Shangri-La Development Bank at Rs 230; average base price Rs 298

Nepal Stock Exchange has published the information regarding the adjusted price for Shangri-La Development Bank (SADBL) after the closure of its book for 80% right issue. The price has been adjusted at Rs. 230 for its proposed 80% Right shares. Its Average Base Price is Rs. 298. The development bank is going to issue 1:0.8 (80%) right share worth Rs 1.08arba to its existing shareholders at par value of Rs 100. The issue manager for the right issue is Prabhu Capital Limited. The 12th AGM of the bank held on Jestha 19, 2074 had endorsed 1:0.8 right shares to their shareholders. After 80% right issue, its paid up capital will reach Rs 2.44 arba from existing capital of Rs 1.36 arba. As per NRB’s monetary policy, SADBL should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. After the issuance of these right shares, the bank should issue a further Rs 6 crore capital to meet the NRBs' directives.