Only 5 trading days left to clinch 40% right share of Nepal SBI Bank; Book closure on Baisakh 26

Securities Board of Nepal (SEBON) had provided approval to Nepal SBI Bank Limited (SBI) for the issuance of 40% right shares on Baisakh 12, 2074. The bank has announced book closure for the rights issue on Baisakh 26, 2074. As per the notice published by the bank today, the register of their shareholders will close on Baisakh 26, 2074 for one day only. Only those shareholders holding shares of SBI 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 is the issue manager for right share of Nepal SBI Bank. SBI will be issuing a total of 19,919,423.60 units right shares worth Rs 1.99 arba, each to be floated to its existing shareholders at par value of Rs 100 per share. Its paid up capital after recently issued 67,767.87 units FPO shares and 28% bonus share (for FY 2072/73) stands at Rs 5.03 arba. After issuance of this 40% right share, its paid up capital will reach Rs 7.03 arba. 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 97 crore (13.80%).