NCCB allots 1.54 Crore units of 50% right issue; remaining 79 Lakh units to be auctioned

Nepal Credit and Commerce Bank (NCCB) had been issuing 50% right shares for existing shareholders at a par value of Rs.100 per share from Bhadra 04, 2075.

Sunrise Capital had been appointed as the issue manager for the right share issue.

As per the issue manager, a total of 23,395,291 units (2.33 Crore units) were offered as rights out of which 79 Lakh units remain un-allotted. The reaming right shares will be auctioned soon.

Currently, the paid up capital of the bank is Rs 4.67 arba. After the adjustment of the right shares, the paid-up capital of the bank will rise to Rs 7.01 arba. The bank will likely distribute bonus shares for the remaining Rs 99 crore to meet the minimum capital requirement of Rs 8 arba.