Narayani Development Bank has received approval from the Securities Board of Nepal (SEBON) to issue rights shares at a 1:1 ratio.
The bank currently has a paid-up capital of Rs. 262.4 million. After the rights offering, this is expected to more than double, crossing Rs. 524 million.
Global IME Capital has been appointed as the issue and sales manager for the rights offering.
As of Thursday, Narayani Development Bank’s last traded price on the secondary market stood at Rs. 1,660 per share. The bank currently operates five branches across Chitwan and Parsa districts.
