150% Right Shares of Mount Makalu Dev. Bank receives approval from SEBON

Securities Board of Nepal has approved 1:1.5 (150%) right shares of Mount Makalu Development Bank Limited (MMDBL). MMDBL will be issuing 390,000 unit shares shares worth Rs 3.90 crore to its existing shareholders. MMDBL 5^th AGM had approved 150% right shares. NIBL Capital Market has been assigned as the issue manager for the same. MMDBL had provided 30% stock dividend to its shareholders from the net profit earned in the fiscal year 2071/72. Mount Makalu has earned net profit of Rs 39.87 lakhs in the fourth quarter of last fiscal year 2071/72 as per unaudited report.