SEBON approves to issue Rs 2.65 arba worth right shares of Machhapuchchhre, Siddhartha, Alpine & Kanchan Dev Bank

Securities Board of Nepal (SEBON) has provided approval to Machhapuchchhre Bank Limited (MBL), Siddhartha Bank Limited (SBL), Alpine Development Bank Limited (ALDBL) and Kanchan Development Bank Limited (KADBL) for issuing right shares to their shareholders. MBL received approval to issue right shares in the ratio 100:12, SBL for 10:3, ALDBL for 3:2.08 and KADBL received approval to float right shares in the ratio 4:1. Overall, SEBON provided approval to issue 2.65 crore units right shares worth Rs 2.65 arba yesterday. As the deadline for BFIs to increase their paid up capital before the end of FY 2073/74 is coming near, SEBON has been providing approval for these companies to issue right shares to their shareholders for capital increment. Laxmi Capital Market is the issue manager for the right share of SBL. Likewise, Global IME Capital will be managing the issue for Kanchan Development Bank Limited while NMB Capital is the assigned issue manager for the right issue of Machhapuchchhre Bank and Alpine Development Bank Limited both.