Nepal Bangladesh Bank to issue 80% (3.20 crore units) right shares from Baisakh 7; offer ends on Jestha 10

Nepal Bangladesh Bank Limited (NBB) will be issuing 3,20,94,068.80 units right shares to its shareholders in the ratio 10:8 (80%) from Baisakh 7, 2074. As per the notice published by the bank today, the rights issue will remain open for 35 days before closing on Jestha 10, 2074. The book closure date for the 80% right issue was set for Chaitra18, 2073. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Chaitra 17, 2073 are eligible to apply for the right shares. Global IME Capital Limited is the issue manager for the right issue. Interested applicants can collect application forms from Global IME Capital Limited, Jamal, Kathmandu and all branches of Nepal Bangladesh Bank. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 7.22 arba from the existing Rs 4.01 arba. The bank has authorized capital of Rs 10 arba. NBB has earned net profit of Rs 54.06 crore in the second quarter of the FY 2073/74. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, NBB will need to increase its capital by a further 10.85%.