NIC Asia Bank and Chandragiri Hills Seek SEBON Approval for Rights Share Issuance
NIC Asia Bank and Chandragiri Hills Limited have applied to the Securities Board of Nepal (SEBON) for approval to issue rights shares.
NIC Asia Bank Limited and Chandragiri Hills Limited have submitted applications to the Securities Board of Nepal (SEBON) seeking approval to issue rights shares.
NIC Asia Bank has proposed a 50% rights issue (2:1 ratio) based on its current paid-up capital. If approved, the bank will issue 74,587,835 rights shares at a face value of Rs. 100 per share. NIMB Ace Capital has been appointed as the issue and sales manager.
Similarly, Chandragiri Hills Limited has applied to issue 100% rights shares (1:1 ratio). Following regulatory approval, the company will offer 16,107,955 rights shares at a face value of Rs. 100 per share to its existing shareholders. Global IME Capital has been appointed as the issue manager.
Both companies will proceed with the rights share issuance only after receiving final approval from SEBON and will subsequently announce the book closure date and subscription schedule for eligible shareholders.