Book closure for 80% right shares of Shangri-la Development Bank on Mangsir 27; only 5 trading days left

Shangri-la Development Bank Limited (SADBL) has published notice regarding book closure date for upcoming 80% right share issue. As per the notice published by the development bank today, the book closure date has been set from Mangsir 27 to Poush 4, 2074. Thus only those shareholders holding their shares till Mangsir 26, 2074 i.e. one day ahead of the book closure date are eligible for right shares. SADBL will be issuing 80% right shares to its shareholders at Rs 100. Prabhu Capital Limited has been assigned as issue manager for the right share issue. The development bank ‘s 12^th AGM held on Jestha 19, 2074 had endorsed 1:0.8 right shares to their shareholders. After 80% right issue, its paid up capital will reach Rs 2.44 arba from existing capital of Rs 1.35 arba. As per NRB’s monetary policy, SADBL should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. After the issuance of 80% right share, the bank should issue a further Rs 6 crore capital increment (around 2.5%). It had earned Rs 4.10 crore in the first quarter of the FY 2074/75. Click here to see announcement: