NIC Asia 25% right share offer starts from today; ends on Ashad 15

NIC Asia Bank has called on its existing shareholders to start applying for 4:1 (25%) right share from today (Jestha 13, 2073). The rights issue will close on Ashad 15, 2073. Only shareholders who have bought the shares and transferred in their name before the book closure date on Baisakh 31, 2073 would be eligible to apply for the right shares. NIC Asia Bank is issuing a total of 92, 37,540 unit right share at the face value of Rs 100. Civil Capital Markets limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of NIC Asia Bank, as well as from Civil Capital Markets Limited located at Kamaladi, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 4.61 arba from the existing Rs 3.69 crore. The bank has authorized capital of Rs 5 arba. Its promoter- public ratio stands at 51: 49. ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue. Its last traded price stood at Rs 771 as on May 25, 2016.