SEBON: ICRA rating not required to issue right shares

Securities Board of Nepal (SEBON) has published a notice stating that the banks and other financial institution will not be required to do  ICRA rating for the right shares if a)They are issuing right shares at par b) Their net worth per share is above 100 c)Their market value is more than the par value d)Must be in operation for at least five years and in profit for at least 3 years e) NPA should not be above the range fixed by Nepal Rastra Bank f)The increment of capital needs to be mentioned in the article and memorandum of the association and should be recorded in the Company’s Registrar Office