Excel Development Bank Limited (EDBL) is in the process of distributing the appropriate shares to shareholders. The corporation intends to sell the appropriate shares in a 10:3 ratio. This means that a shareholder who has 100 shares can apply for the 30 appropriate shares.
On Jestha 27, 2078 BS, the development bank filed an application with the Securities Board of Nepal (SEBON) for the issuing of right shares. The corporation can only float the shares after gaining clearance from SEBON.
The bank has appointed NIBL Ace Capital as the issue and sales manager for the right offering.
The company would issue 24.33 lakh right shares at Rs 100 per share. As a result, the total right issue is Rs 24.33 crores.