NRN Infrastructure and Development appoints Nepal SBI Merchant Banking as sales manager for right share issue

KATHMANDU:NRN Infrastructure and Development Limited has appointed an Issue and Sale Manager for the issue of rights shares. Nepal SBI Merchant Banking Limited has been appointed as the Issue and Sale Manager for the issue and sale of 1,28,43,724 units of ordinary shares to existing shareholders at a 1:1 ratio, representing 100% of the company's paid-up capital.
During a ceremony on Sunday, Lekhnath Pokharel, Managing Director and Chief Executive Officer of Nepal SBI Merchant Banking Limited, and Hemant Basyal, Chief Executive Officer of NRN Infrastructure and Development Limited, inked an agreement on issuance and sale management.
Along with the agreement, the company stated that Nepal SBI Merchant Banking Limited will manage the 1:1 rights issuance approved by NRN Infrastructure and Development Limited's annual general meeting for the fiscal year 2080/81.
This NRN Infrastructure and Development Limited was registered with the Office of the Registrar of Companies on Bhadra 31, 2069, and has been involved in investment-related work/business in various hydropower, tourism, hotel, insurance, communication, and other projects consistent with its objectives. The company's original stockholders are outstanding individuals with extensive experience in the electrical, banking/financial, educational, national and international trade/business, and management sectors.
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