NIC Asia Bank Proposes 50% Rights Issue Worth Rs 7.45 Arba, Seeks NRB Approval

NIC Asia Bank Limited (NICA) has proposed a 50 percent rights issue to its shareholders, offering two shares for every one held, and has formally requested prior approval from Nepal Rastra Bank (NRB) to proceed.

The decision was made at the bank’s 746th board meeting held on Poush 20, 2082. Under the plan, NICA intends to issue 74,587,835 units of rights shares worth Rs 7.45 Arba. The move will raise the bank’s paid-up capital from Rs 14.91 Arba to Rs 22.37 Arba.

The issuance is subject to approval by the NRB and subsequent endorsement at the bank’s upcoming Annual General Meeting (AGM).