SEBON approves to issue 30% right share of Sanima Bank

Securities Board of Nepal (SEBON) has provided final approval to Sanima Bank Limited (SANIMA) for the issuance of right shares in the ratio 10:3. SANIMA will be issuing 1,59,17,617 units right shares in the face value of Rs 100 per share to its shareholders. CBIL Capital Limited has been assigned as the issue manager for the right issue. SANIMA has earned net profit of Rs 62.25 crore in the second quarter of the fiscal year 2073/74. Its paid up capital currently stands at Rs 5.30 arba. After the issuance of 30% right shares, its paid up capital will reach Rs 6.90 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, SANIMA will need to issue a further capital hike of around 16%.