Excel Dev. Bank lengthened its right share issuance till March 20

Kathmandu February 24- Excel Development Bank Limited  has lengthened its ongoing 25.93% (4:1.0370) right share issue till March 20 that means investors have 25 extended days to apply for the right issue.

Excel development bank has been issuing right shares from January 21. Excel Development Bank is issuing a total of 525,000 unit right share at the face value of Rs 100. Ace Capital limited has been assigned as the issue manager for the right issue.

After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 255 million from the existing Rs 202.5 million.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue of Excel Development Bank.