Sahara Bikas Bank 250% right share approved by SEBON; transactions still halted due to on-going acquisition by Deva Bikas Bank

Securities Board of Nepal (SEBON) has provided final approval to Sahara BIkas Bank Limited (SHBL) for the issuance of 250% right shares. SHBL had applied to SEBON on Asoj 2, 2074 for the issuance of 18,24,870 units right shares worth Rs 18.24 crore in the ratio 1:2.5 and it received approval for the same yesterday. NIBL Ace Capital Limited has been assigned as the issue manager. SHBL’s 6^th AGM held on Poush 29, 2073 had approved 250% right share i.e. 18,24,870 units to its existing shareholders. The development bank had earned Rs 54.33 crore till the end of Q2 of the fiscal year 2074/75. Its paid-up capital stands at Rs 7.29 crore. After the issuance of right shares, paid up will reach Rs 25.54 crore. SHBL is in the process of being acquired by Deva Bikas Bank Limited (DBBL).