Right Shares in Pipeline: 1:1 right shares of Narayani Development Bank

Fri, Nov 20, 2020 12:36 PM on Latest, Dividend, Bonus & Rights,

The right shares of Narayani Development Bank Limited (NABBC) in the ratio 1:1 is under SEBON's preliminary review.

The right shares amount to 6,56,169 units.

Chitwan-based Narayani Development Bank was undergoing Prompt Corrective Action (PCA) since June 2012. It was declared troubled by Nepal Rastra Bank (NRB) in the year 2014 AD. NRB had decided to declare the development bank problematic citing the company's inability to straighten its financials even two years after the central bank imposed PCA.

Issuing a new notice on Shrawan 22, 2077, the bank had acknowledged that NEPSE has declared Narayani Development Bank Limited free from the crisis-ridden status. The bank was then free to resume its banking operations. However, its shares haven't yet traded in NEPSE.