Trading of Narayani Development Bank (NABBC) allowed after six years; Bonus shares listed; Right shares in pipeline

The 50% bonus shares of Narayani Development Bank Limited (NABBC) are now listed in NEPSE. The bonus shares totaling 2,18,746 units are now listed by NEPSE's decision on Mangsir 08.

Trading of Narayani Development Bank was brought to a halt six years ago. Chitwan-based Narayani Development Bank was undergoing Prompt Corrective Action (PCA) since June 2012. It was declared troubled by Nepal Rastra Bank (NRB) in the year 2014 AD. NRB had decided to declare the development bank problematic citing the company's inability to straighten its financials even two years after the central bank imposed PCA.

Issuing a new notice on Shrawan 22, 2077, the bank had acknowledged that NEPSE has declared Narayani Development Bank Limited free from the crisis-ridden status. The bank was then free to resume its banking operations. Now, the shares of NABBC are also freed for trading. Investors can now trade the shares of the company in the upcoming session. The opening price should be Rs. 290.

Furthermore, the right shares of Narayani Development Bank Limited (NABBC) in the ratio 1:1 is under SEBON's preliminary review. The right shares amount to 6,56,169 units.