NIC Asia Bank’s 15% right share added in SEBON Pipeline

NIC Asia Bank (NICA) has been added in SEBON right share pipeline to seek approval for 100:15 right share. The bank has requested for issuance of 8,729,475 units right shares at a face value of Rs 100 per unit. Civil Capital Market Ltd. has been assigned as the issue manager for the right. NICA’s 19^th AGM held on Ashwin 18, 2073 had approved 26% bonus share and 15% right. Its paid up capital after 26% bonus stands at Rs 5.82 arba. After the issuance of 15% right, the paid up will reach Rs 6.69 arba. As such, it 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.