Right shares worth of Rs. 500 million to flows in the market

Kathmandu January 10- Right shares worth of Rs. 500 million may arrive in the market in coming days. In order to implement NRB directive to increase paid up capital, Sunrise bank ltd, Innovative development bank and Excel development bank is issuing right shares worth of Rs. 500 million in the month of January.  

Sunrise bank is issuing right shares in proportionate to 100:15 worth of Rs. 369 million of 3 million 690 thousands 73 units of shares and has appointed Civil capital to manage its right share issue. Right shares of sunrise bank will commence from January 24 to February 23. Paid up capital of the bank will reach Rs. 2 billion 820 million from Rs. 2 billion 460 million after the right share issue.

Operating in regional areas, Excel development bank is also issuing right shares of Rs. 52.5 million. Excel has appointed Ace capital for its 4:1.03 proportionate right shares from January 21. Priced at Rs. 100, excel development is issuing 525 thousands right shares. Bank has authorized capital of Rs. 400 million, issue capital of Rs. 255 million and paid up capital of Rs. 202.5 million. After issuance of right shares, excel's paid up capital will reach Rs. 255 million.

Similarly, another regional bank, Innovative development bank is issuing Rs. 100 million right share. Innovative bank has appointed NMB capital as an issue manager from January 22 to February 25. It is issuing 100 million units of shares at Rs. 100 per share. Having authorized capital of Rs. 400 million and issue capital of Rs. 250 million, bank has paid up capital of Rs. 150 million which will reach Rs. 250 million after issuance of right shares.