SEBON approves 50% right shares of NCC Bank; bank to issue over 2.33 crore unit shares to raise capital to Rs 7.01 arba

Securities Board of Nepal (SEBON) has given its final approval for the issuance of 50% right shares to Nepal Credit and Commercial Bank Limited (NCCB).

The bank will be issuing 2,33,95,291 unit shares at par value of Rs 100.

Sunrise Capital has been appointed as the issue manager for the right share auction.

Currently, the paid up capital of the bank is Rs 4.67 arba. After the adjustment of the right shares, the paid-up capital of the bank will rise to Rs 7.01 arba. The bank will distribute bonus shares for the remaining 99 crore to meet the minimum capital requirement of Rs 8 arba.

In the third quarter of the current fiscal year, the bankhas reported net profit of Rs 54.31 crore with annualized EPS of Rs 15.48.