NIC ASIA Bank Limited appoints NIMB ACE Capital Limited as issue & sales manager for rights share issuance
The issuance process will proceed after obtaining the remaining necessary regulatory approvals and completing other required procedures.
KATHMANDU: NIC ASIA Bank Limited has appointed NIMB ACE Capital Limited as the Issue and Sales Manager for the issuance of rights shares in the ratio of 2:1.
As per the approval received from Nepal Rastra Bank, the Bank will issue 74,587,835 units rights shares at a face value of NPR 100 per share, equivalent to 50% of the Bank’s existing paid-up capital of NPR 14,91,75,63,000 in the ratio of 2:1.
The issuance process will proceed after obtaining the remaining necessary regulatory approvals and completing other required procedures.
The proceeds from the rights share issuance are planned to be utilized for strengthening the Bank’s capital structure, enhancing its capital adequacy ratio, and supporting the implementation of the Bank’s long-term business expansion and strategic initiatives.
The agreement relating to the rights share issuance and sales management was signed by Mr. Rupesh Luite Chief Financial Officer, on behalf of NIC ASIA Bank Limited, and Mr. Sachindra Dhungana, Deputy Chief Executive Officer, on behalf of NIMB ACE Capital Limited.
