Sebon approves to issue 120% Right Share of Sewa Bikas Bank

Securities Board of Nepal (SEBON) has given final approval to issue 1:1.2 (120%) right shares of Sewa Bikas Bank Limited (SEWA). NMB Capital Limited has been assigned as the issue manager for right share issue. Sewa Bikas Bank SGM held on Jestha 18, 2073 had approved 120% right share i.e. 51, 06,662 units to its eligible shareholders. Sewa Bikas Bank has earned a net profit of Rs 10.76 crore in the fourth quarter of the last fiscal year. It’s paid up capital remains at Rs. 42.55 crore. After distribution of 1:1.2 right shares it’s paid up capital will reach Rs 93.62 crore. Its last traded price stood at Rs 700 as on September 22, 2016.