19% of First Microfinance promoter share get converted into public share

Nepal Stock Exchange Limited (Nepse) has decided to covert 19 percent of promoter shares of First Microfinance Development Bank Limited (FMDBL). As per the notice published on NEPSE today, Nepal Stock Exchange has decided to convert 4, 37,000 units promoter shares of First Microfinance making the promoter public share ratio of the company 51:49. First microfinance had earned net profit of Rs. 2.34 crore in its second quarter of the fiscal year 2072/73. The microfinance company had distributed 20.89% bonus share from the net profit it earned in the fiscal year 2071/72. Its last traded price (LTP) stand at Rs. 1,061 as on February 7, 2016 (today).