Sebon finally approves 50% right shares of NCC Bank ; Paid-up capital of the company to reach Rs 7.01 arba

Securities Board of Nepal (SEBON) has given its last endorsement for the issuance of 50% right offers to Nepal Credit and Commercial Bank Limited (NCCB). 

The bank will be issuing 2,33,95,291 unit shares at a face value of Rs 100. 

Sunrise Capital has been delegated as the issue administrator for the right issue. 

Right now, the paid up capital of the bank is Rs 4.67 arba. After the issuance of 50% right shares, the paid-up capital of the bank will ascend to Rs 7.01 arba. The bank will probably issue bonus shares worth Rs 99 crore to meet the paid-up capital necessity of Rs 8 arba. 

In the third quarter of the current financial year, the bank had revealed net profit of Rs 54.31 crore with annualized EPS of Rs 15.48.