SEBON approves to issue 10% right share of Lumbini Bikas Bank

Securities Board of Nepal (SEBON) has given final approval to issue 10:1 (10%) right shares of Lumbini Bikas Bank Limited (LBBL). Prabhu Capital Limited has been assigned as the issue manager for right share issue. LBBL will be issuing 20,08,878.27 units shares worth Rs 20.08 crore at the face value of Rs 100 each to be issued to the existing shareholders at par. Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).