Meeting Scheduled in Kathmandu with Key Financial and Governance Agendas
NIC Asia Bank Limited (NICA) has announced its 28th Annual General Meeting (AGM), scheduled for Jestha 18, 2083. The meeting will take place at the Army Officers’ Club, Bhadrakali, Kathmandu, starting at 9:00 AM.
The bank has outlined several important agendas covering financial approval, capital restructuring, dividend-related decisions, and board elections.
Key Agendas of the AGM
The AGM will review and approve the following major matters:
- Approval of the Annual Report for fiscal year 2081/82 presented by the Board of Directors
- Approval of the financial statements, including the Balance Sheet, Profit & Loss Account, Cash Flow Statement, and related schedules along with the Auditor’s Report for FY 2081/82
- Appointment of an Auditor for FY 2082/83 and determination of their remuneration
- Proposal to increase the bank’s authorized, issued, and paid-up capital
- Approval for issuing rights shares in a 2:1 ratio, amounting to 7.45 crore units worth Rs. 7.45 billion
- Election of three directors representing founder shareholders and three directors representing public shareholders
- Miscellaneous matters
Rights Share Issue in Focus
One of the major highlights of the AGM is the proposal to issue rights shares in a 2:1 ratio. If approved, the bank will issue 7.45 crore new shares worth Rs. 7.45 billion, significantly increasing its capital base.
This move is expected to strengthen NIC Asia Bank’s financial position and support future expansion plans.
Book Closure Details for Shareholders
The bank has announced that the book closure period will be from Jestha 06 to Jestha 18. Only shareholders who maintain their shares before the book closure date will be eligible to participate in the AGM and related decisions.
Governance and Future Direction
The election of board members representing both founder and public shareholders is also a key agenda item, ensuring continued corporate governance and representation of all stakeholders.
Market analysts suggest that the proposed capital increase and rights issue could attract strong attention from investors in Nepal’s banking sector.
Related Finance News
STC Share Price Adjusted After Bonus Share Announcement
Salt Trading Corporation has adjusted its share price following the announcement of a 9.50% bonus share distribution. Investors are closely watching the stock as the adjustment impacts market valuation and future trading momentum in the NEPSE market.
Kalanga Hydro IPO Closes With Strong Investor Demand
Kalanga Hydro Limited closed its IPO issue today after receiving strong participation from investors. The hydropower sector continues to attract significant public interest as new energy companies enter Nepal’s capital market.
Laxmi Sunrise Capital To Manage Genesis Ventures IPO
Laxmi Sunrise Capital has been appointed as the issue and sales manager for the upcoming public offering of Genesis Ventures. The appointment signals preparations for another new entry into Nepal’s stock market.
Nepal Preparing National Budget For Fiscal Year 2083/84
Nepal is set to unveil its national budget for fiscal year 2083/84 this Friday. Investors, businesses, and economists are expecting major announcements related to taxation, infrastructure, and economic growth policies.
Public Holidays Announced For Bakra Eid And Republic Day
The Government of Nepal has officially declared public holidays for Bakra Eid and Republic Day celebrations. The announcement affects government offices, financial institutions, and stock market operations during the holiday period.
Understanding NEPSE: Beginner’s Guide To Nepal Stock Market
Nepal Stock Exchange remains the center of Nepal’s capital market. This guide explains how NEPSE works, how investors can start investing, and the basics every beginner should understand before entering the stock market.
Sajha Yatayat Reports Loss Despite Government Investment
Sajha Yatayat has fallen into financial loss despite continued government investment and support. Rising operational costs and management challenges have raised concerns about the sustainability of Nepal’s public transportation sector.
China Becomes Nepal’s Largest Foreign Investor
China has emerged as the largest foreign investor in Nepal, accounting for nearly half of the country’s approved foreign investment projects. The growing Chinese investment reflects increasing economic cooperation between the two nations.
CIB Requests SEBON To Freeze Shares Of 56 Individuals
Central Investigation Bureau has asked Securities Board of Nepal to freeze the shares and investment details of 56 individuals linked to an ongoing investigation involving Dipak Bhatta. Authorities are investigating possible violations under Nepal’s Securities Act, increasing attention on market transparency and regulatory enforcement.
SEBON Approves IPO Issuance For 24 Companies
Securities Board of Nepal has approved IPO issuance for 24 companies, allowing millions of ordinary shares to enter Nepal’s capital market. The approvals are expected to increase investment opportunities and expand participation in the country’s growing stock market.