SEBON approves 40% right shares of Civil Bank

Securities Board of Nepal (SEBON) has provided approval to Civil Bank Limted (CBL) for the issuance of right shares. CBL will be issuing right shares in the ratio 10:4 (40%). Laxmi Capital Market Limited is the issue manager for right share. CBL will be issuing a total of 2,07,40,886.75 units right shares worth Rs 2.07 arba, each to be floated to its existing shareholders at par value of Rs 100 per share. CBL’s current paid up capital remains at Rs 5.18 arba. After issuance of 40% right share, its paid up capital will reach Rs 7.25 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, CBL should increase a further capital hike of Rs 75 crore (around 10%).