NIC ASIA Bank appoints NIMB ACE Capital as issue and sales manager for rights share issuance

KATHMANDU: NIC ASIA Bank has appointed NIMB ACE Capital as the Issue and Sales Manager for a rights share offering in the ratio of 2:1.

With approval from Nepal Rastra Bank (NRB), NIC ASIA Bank plans to issue 74,587,835 rights shares at a face value of Rs 100 per share, equivalent to 50% of its existing paid-up capital of Rs 14,91,75,63,000. The issuance will proceed after the bank secures the remaining regulatory approvals and completes other required procedures.

NIC ASIA Bank said the proceeds will be used to strengthen its capital structure, improve its capital adequacy ratio and support the implementation of its long-term business expansion and strategic initiatives.

The agreement for the rights share issuance and sales management was signed by Rupesh Luite, Chief Financial Officer of NIC ASIA Bank, and Sachindra Dhungana, Deputy Chief Executive Officer of NIMB ACE Capital.