Sanima,Mega & Himalayan Bank right offering expected soon, 3 banks require ICRA rating to issue right share
Tue, May 17, 2016 3:00 AM on Latest, Featured, Stock Market,
As per the notice of Securities Board of Nepal (SEBON), BFIs will not require ICRA rating to issue Right shares if
a)They are issuing right shares at par
b) Their net worth per share is above 100
c)Their market value is more than the par value
d) Must be in operation for at least five years and in profit for at least 3 years
e) NPA should not be above the range fixed by Nepal Rastra Bank
f) The increment of capital needs to be mentioned in the article and memorandum of the association and should be recorded in the Company’s Registrar Office
Here is the list of Commercial Bank which has either endorsed right shares by its recent AGM/SGM or about to endorse through its AGM/SGM in near future.
*Sunrise Bank has acquired Narayani National Finance Limited and postponed its 30% right share issuance for now. But will endorse and issue it once the bank will start integrated business with the acquired bank.
* Nepal Bank Limited has scheduled to hold its 56th AGM on 28th Jestha, 2073. It will endorse on same meeting.
Commercial Bank like Nepal Bank Limited (NBL) will require ICRA rating for the right issue. The banks net worth per share is less than Rs100. Net worth per share of Nepal Bank stands at Rs 85 as per the latest quarterly financial report published by the bank.
Nepal SBI Bank Limited (SBI) will also require ICRA rating as it is planning to issue Right shares at a premium price.
And if Prabhu Bank goes as per its capital plan and issues right shares in the upcoming fiscal year than it would also require an icra rating before the issuing right shares. Its net worth per share stands at Rs 96.61.
Right offering of Sanima Bank Limited (SANIMA), Mega Bank Limited (MEGA) and Himalayan Bank Limited (HBL) can be expected soon as these banks have already applied for the approval of Securities Board of Nepal (SEBON) and they won't need ICRA rating.
*Sunrise Bank has acquired Narayani National Finance Limited and postponed its 30% right share issuance for now. But will endorse and issue it once the bank will start integrated business with the acquired bank.
* Nepal Bank Limited has scheduled to hold its 56th AGM on 28th Jestha, 2073. It will endorse on same meeting.
Commercial Bank like Nepal Bank Limited (NBL) will require ICRA rating for the right issue. The banks net worth per share is less than Rs100. Net worth per share of Nepal Bank stands at Rs 85 as per the latest quarterly financial report published by the bank.
Nepal SBI Bank Limited (SBI) will also require ICRA rating as it is planning to issue Right shares at a premium price.
And if Prabhu Bank goes as per its capital plan and issues right shares in the upcoming fiscal year than it would also require an icra rating before the issuing right shares. Its net worth per share stands at Rs 96.61.
Right offering of Sanima Bank Limited (SANIMA), Mega Bank Limited (MEGA) and Himalayan Bank Limited (HBL) can be expected soon as these banks have already applied for the approval of Securities Board of Nepal (SEBON) and they won't need ICRA rating.
