Sanima’s rights share

KATHMANDU: Sanima Bank has decided to issue 50 per cent rights shares this year as approved by the 11th annual general meeting. As per the directive of Nepal Rastra Bank regarding the increment of paid-up capital of commercial banks to Rs eight billion by mid-July 2017, Sanima has submitted the capital increment plan through issuance of bonus and rights shares. Nabil Investment Banking Ltd has been appointed as issue manager for the issuance of over 15 million shares equivalent to 50 per cent of gross paid-up capital valued at Rs 1.53 billion. An agreement regarding the same was recently signed by Saroj Guragain, chief financial officer of Sanima Bank and Pravin Raman Parajuli, CEO of Nabil Investment.