Securities Board of Nepal (SEBON) has given final approval to issue 1:4 (400%) right shares of Green Development Bank Limited (GRDBL).
Laxmi Capital Markets Limited has been assigned as the issue manager for right share issue.
The development bank’s 4th AGM held on Magh 28, 2073 had endorsed 1:4 right shares to their shareholders.
GRDBL will be issuing 4,000,000 units shares worth Rs 40 crore at the face value of Rs 100 each to be issued to the existing shareholders at par.
GRDBL has a paid up capital of Rs 10 crore at present. After issuance of 400% right share, its paid up capital will reach to Rs 50 crore. Nepal Rastra Bank’s (NRB) Monetary Policy has directed 1-3 district level development banks to maintain their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, and after the issuance of 400% right share, the 3-district level development bank will meet NRB’s requirement.