The decision, however, is subject to approval of Nepal Rastra Bank and the bank's upcoming 22nd annual general meeting. The meeting has also decided to move a special resolution to its upcoming AGM for issuing rights shares up to face value of Rs 2.6 billion, according to the statement.
“The meeting also decided to delegate the authority to the bank's board to fix premium price for the rights issue within the ceiling of net-worth per share as per the last audited financial statements (b) approve the ratio for issuance of shares on rights basis, issuance price and number of tranches for the rights issue keeping in view the strategic considerations and business opportunities at the time of issue of right shares,” the statement added.
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