Stay prepared for right offering from Excel Development Bank; bank appoints NIBL Ace Capital to float its 24.33 lakh unit right shares

NIBL Ace Capital Limited has been appointed as the issue manager for the Excel Development Bank Limited, for Right Share issue.

The right shares totaling 24,33,363.6742 units will be issued to its shareholders.

The 14th AGM of the company held on Ashad 14, 2077 endorsed a 10: 3 rights offering. Thus, 24,33,363.6742 units will be issued to shareholders at a rate of Rs. 100 per unit. This offering will raise a capital of Rs. 24,33,36,367.42 for the company.

The agreement for the same was signed on April 09, 2021 between Mr. Dinesh Kumar Pokhrel (Chief Executive Officer, Excel Development Bank Ltd.) and Mr. Mekh Bahdaur Thapa (Deputy Chief Executive Officer, NIBL Ace Capital Ltd.) and Mr. Sachindra Dhungana (Assistant General Manager, NIBL Ace Capital Ltd.).