SEBON provides approval to the upcoming right shares of Naya Nepal Laghubitta & City Express Finance; Companies issuing 250% and 167% right shares respectively

Securities Board of Nepal (SEBON) has provided approval to the right share issue of Naya Nepal Laghubitta Bittiya Sanstha and City Express Finance Company Limited.

Naya Nepal Laghubitta (NNLB) will be issuing 250% right shares for its shareholders. The microfinance company is issuing 6,00,000 unit shares at a par value of Rs 100.

After the adjustment of the right shares, its paid up capital will reach Rs 8.40 crore.

NMB Capital has been appointed as the issue manager for the right share issuance.

Similarly, City Express Finance Company Limited (CEFL) is issuing 167% right shares to its shareholders. The finance company is issuing 25 lakh unit shares at par value of Rs 100.

After the adjustment of right shares, its paid-up capital will reach Rs 40 crore.

Kathmandu Capital Markets Limited has been appointed as the issue manager for the right issuance.