SEBON Approves 10: 3 Rights Proposal of Excel Development Bank (EDBL)

The Securities Board of Nepal has approved the rights proposal of Excel Development Bank Limited (EDBL). The development bank will now issue rights shares in the ratio 10: 3.

Thus, 24,33,363.67 shares will be issued. NIBL Ace Capital has been appointed the issue manager. The regulatory board approved the proposal on Shrawan 31. The company had submitted its proposal on Jestha 27 earlier this year.

Excel Development Bank Limited has posted a net profit of Rs 117.74 million in the third quarter of the fiscal year 2077/78. As of writing, EDBL has an LTP of Rs. 1,149.90. This offering will raise a capital of Rs. 24,33,36,367.42 for the company. After rights issuance, the paid-up capital of the company will be over 1.05 Arba.