Nepal SBI Bank’s 40% right share in SEBON pipeline

Nepal SBI Bank Limited (SBI) has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of right shares in the ratio 10:4. SBI will be issuing 1.99 crore units right shares worth Rs 1.99 arba to its existing shareholders at a face value of Rs 100 per share. NMB Capital Limited has been appointed as the issue manager. SBI’s paid up capital currently stands at Rs 4.97 arba. After the issuance of 40% right shares, its paid up capital will reach Rs 6.97 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba, SBI will need to further increase its capital by a further 14.8%.