Nepal SBI Bank floating 40%(1.99 crore units) right shares from today; offer ends on Ashad 11

Nepal SBI Bank Limited (SBI) is issuing 40% right shares (19,919,423.60 units) to its shareholders from today (Jestha 7, 2074). The rights issue will remain open for 35 days before closing on Ashad 4, 2074. The book closure date for the rights issue was on Baisakh 26, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 25, 2074 are eligible to apply for the right shares. NMB Capital Limited has been assigned as the issue manager for SBI’s right share issue. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.97 arba from the existing Rs 4.97 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 70:30 ratio. 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, SBI will need to issue a further capital hike of Rs 1.03 arba (15%).