Siddhartha Dev Bank’s 60% right share in SEBON pipeline

Siddhartha Development Bank Limited (SDBL) has been added in SEBON pipeline to seek approval for the issuance of right shares in the ratio 10:6. SDBL’s 17^th AGM at endorsed the agenda to issue 60% right shares on its existing paid up capital. SDBL will be issuing 85,15,005.60 units right shares worth Rs 85.15 crore to be floated at a face value of Rs 100 per share. After the issuance of 60% right share, its paid up capital will reach Rs 2.25 arba. SDBL has signed an agreement with Janata Bank Nepal Limited for acquisition, and as a result, its trading has been suspended in NEPSE.