NIC Asia Bank to issue 15% (87.29 lakh units) Right Shares from Chaitra 16; Book Closure on Chaitra 7

NIC Asia Bank Limited (NICA) will be issuing 100:15 (15%) right shares to its existing shareholders from Chaitra 16, 2073. According to the notice published by the commercial bank yesterday, the rights issue will remain open for 35 days before closing on Baisakh 19, 2074. NIC Asia Bank will be issuing a total of 87,29,475 unit right shares at the face value of Rs 100. The book closure date for 15% right issue has been set for Chaitra 7, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Chaitra 6, 2073 will be eligible for the right shares. Civil Capital Markets Limited has been assigned as the issue manager for right share issue. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.69 arba from the existing Rs 5.81 arba. The bank has authorized capital of Rs 8 arba. Its public-promoter share structure stands at 51:49 ratio. Interested shareholders can collect the application forms from Civil Capital, Kamaladi, Kathmandu, and all branch offices of NIC Asia Bank. NIC Asia Bank has earned net profit of Rs 72.14 crore in the second quarter of the fiscal year 2073/74. The bank will need to increase its paid up capital by a further 19.6% to reach NRB’s minimum requirement of Rs 8 arba by the end of FY 2073/74.