Tourism Development Bank's 100% right share in SEBON pipeline

Tourism Development Bank Limited (TDBL) has been added in SEBON pipeline to seek approval for the issuance of right shares in the ratio 1:1. NIBL Capital Markets Ltd. has been appointed as the issue manager for the right. TDBL is seeking approval for issuance of 9,197,712 units right shares to be floated at a par value of Rs 100. Its SGM held on Bhadra 15, 2073 had endorsed 100% right shares to its shareholders after acquiring Matribhumi Development Bank and Kalinchowk Development Bank. After the right issue, its paid up capital will reach Rs 1.83 arba. TDBL has signed an agreement for merger with Mega Bank Nepal Limited (MEGA) due to which their trading is at halt in NEPSE. MEGA has also proposed 65% right share to its shareholders. After the issuance of right shares and subsequent merger, the paid up capital of the merged entity will reach over Rs 9.48 arba.