Sunrise Bank to issue 30% (1.63 crore units) Right Share from Jestha 16; Offer ends on Ashad 19

- ShareSansar, May 16, 2017  on Dividend, Right & Bonus , Featured , Latest , Stock Market

Sunrise Bank Limited (SRBL) will be issuing 1,63,59,636 units right shares to its shareholders in the ratio 10:3 (30%) from Jestha 16, 2074.

As per the notice published by the commercial bank today, “The rights issue will remain open for 35 days before closing on Ashad 19, 2074.”

The book closure date for the 30% right issue was set for Baisakh 30, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 28, 2074 are eligible to apply for the right shares.

Prabhu Capital Limited is the issue manager for the right issue.

After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 7.08 arba from the existing Rs 5.45 arba. The bank has authorized capital of 10 arba.

Interested applicants can collect application forms from Prabhu Capital Limited, Kamaladi, Kathmandu and from all branches of Sunrise Bank Limited.

SRBL has earned net profit of Rs 85.79 crore in the third quarter of the FY 2073/74. As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SRBL will need to increase its capital by a further 12.85%.