NIC Asia Bank Receives Preliminary Approval from NRB to Issue Right Shares
Summary
NIC Asia Bank has received preliminary approval from Nepal Rastra Bank to issue right shares amounting to 50 percent of its current paid-up capital, pending final approvals.
Key Points
- NIC Asia Bank received preliminary approval from Nepal Rastra Bank to issue right shares.
- The right shares will be issued in a 2:1 ratio, allowing one share for every two shares held.
- The approval was granted on Baisakh 17 and will be presented at the bank's 28th AGM for endorsement.
- Post-AGM approval, the bank will seek final clearance from the Securities Board of Nepal to proceed.
