KATHMANDU, APRIL 13
NIBL Ace Capital Ltd has been appointed as the issue manager for the Excel Development Bank Ltd, for rights share issue.
The rights shares totalling more than 2.43 million units will be issued to its shareholders. The 14th AGM of the company endorsed a 10:3 rights offering, as per a media release.
Thus, 2,433,363.6742 units will be issued to shareholders at a rate of Rs 100 per unit. This offering will raise a capital of nearly Rs 243.34 million for the company.
The agreement for the same was signed recently between Dinesh Kumar Pokhrel, chief executive officer of Excel Development Bank Ltd, and Mekh Bahdaur Thapa, deputy chief executive officer of NIBL Ace Capital Ltd, and Sachindra Dhungana, assistant general manager of NIBL Ace Capital Ltd.
A version of this article appears in the print on April 14, 2021, of The Himalayan Times.
