Book closure for 25% right issue of NIC Asia Bank on Baisakh 31; LTP stood Rs 900

NIC Asia Bank Limited (NICA) 18^th AGM held on Magh 10 , 2072 had approved 4:1 (25%) right shares to their shareholders and now the bank has announced the book closure date for the same. The book closure date for 4:1 right issues has been set for Baisakh 31, 2073. Only the shares registered one day ahead of the book closure date i.e. Baisakh 30 will be eligible for the right shares. NICA had earned a net profit of Rs.  50.20 crore in the second quarter of the current fiscal year. The paid up capital of the bank stands at Rs 3.69 arba . After the issuance of 25 percent, the paid up capital will stand at Rs 4.61 arba. Civil Capital Market Limited has been assigned as the issue manager for the right issue. Its last traded price stood at Rs 900 as on May 5, 2016. ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue.