Sebon approves 50% right issue of Sanima Bank; Right share likely to be issued by 2nd week of Ashad

Securities Board of Nepal (SEBON) has given final approval to 2:1(50%) right issue of Sanima Bank today (Jestha 16, 2073). The bank has got approval to issue 15, 301, 440 units right share at Rs 100. As per an official of Nabil Investment Banking limited, ‘The right share issue is likely to be floated by second week of Ashad.’ Nabil Investment Banking Limited is the issue manager for this right share. Sanima Bank has earned net profit of Rs 67.04 crore in the third quarter of the fiscal year 2072/73.Its paid up capital remains at Rs 3.06 arba. After 50% right issuance the paid up capital will reach Rs 4.59 arba. Sanima Bank is in process of acquiring Bagmati Development Bank Limited.