5 BFIs receives Right Share approval from Sebon; NB Ins., Mithila & Manaslu book closure already announced; Womi & Purnima book closure notice within Shrawan 1st week

Securities Board of Nepal (SEBON) has given final approval to 2:1 (50%), 10:8 (80%), 2:1 (50%) 2:1 (50%) & 2:1 (50%) right issue of Mithila Laghubitta Bikas Bank Limited (MLBBL), NB Insurance Company Limited (NBIL), Womi Microfinance Bittiya Sanstha Limited (WOMI), Purnima Bikas Bank (PURBL) and Manaslu Development Bank Limited (MSBBL) respectively. Mithila Laghubitta, Manaslu Bikas Bank and NB Insurance have already published book closure date on Nepal Stock Exchange Limited (NEPSE) whereas Womi Microfinance and Purnima Bikas Bank are yet to announce book closure date for the right share. Mithila Laghubitta has got approval to issue 1, 69, 740 units right share at Rs 100 by Securities Board of Nepal (SEBON) on Ashad 21, 2073. The microfinance has set the book closure date for 50% right issue on Shrawan 7, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 6, 2073 will be eligible for the right shares. As per the official of Civil Capital Market Limited, “We will be publishing the offer letter for the right share on Shrawan 2, 2073 (Sunday).” Civil Capital Market Limited is the issue manager for this right share issue. Mithila Laghubitta has earned net profit of Rs. 74.62 lakh in the third quarter of the current fiscal year. The paid up capital of the bank stands at Rs 3.39 crore. After the issuance of 50 percent right share, the paid up capital will reach Rs 5.085 crore. Its LTP stood at Rs 2850 as on July 14, 2016. Likewise, NB Insurance has got approval from SEBON to issue 1,200,000 units right share at Rs 100 to its existing shareholders on Ashad 28, 2073. The insurance company has set book closure date for 80% right issues on Shrawan 6, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 5, 2073 will be eligible for the right shares. Global IME Capital Limited has been assigned as the issue manager for the right issue. NBIL had earned a net profit of Rs. 2.20 crore in the third quarter of the current fiscal year. The paid up capital of the insurance company stands at 24.49 crore. After the issuance of 80 percent, the paid up capital will reach Rs 44.08 crore. Its last traded price stood at Rs 87.72 as on July 13, 2016. Manaslu Bikas Bank has got approval from SEBON to issue 9, 17,547 units right share at Rs 100 to its existing shareholders on Ashad 22, 2073. The bank has set the book closure date for 50% right issue on Shrawan 6, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 5, 2073 will be eligible for the right shares. As per the official of Growmore Merchant Banker Limited, “We will be posting offer letter for the right share within Shrawan 4, 2073.” Manaslu Bikas Bank has earned net profit of Rs. 2.72 crore in the third quarter of the current fiscal year. The paid up capital of the bank stands at Rs 18.35 crore. After the issuance of 50 percent right share, the paid up capital will reach Rs 27.52 crore. Growmore Merchant Banker Limited has been assigned as the issue manager for the right issue. Its last traded price stood at Rs 540 as on July 14, 2016. Womi Microfinance and Purnima Bikas Bank has also got approval from SEBON to issue 180,000 units  and 1,008,543.59 units right share respectively at Rs 100 to its existing shareholders. Siddhartha Capital Limited has been assigned as the issue manager for the right issue of both companies. As per the official of Siddhartha Capital Limited said, ‘We will be publishing book closure date for Womi Microfinance and Purnima Bikas Bank within first week of Shrawan 2073.” Womi Microfinance has earned net profit of Rs 1.48 crore in the third quarter of the fiscal year 2072/73. The paid up capital of the bank remains at Rs 3.6 crore. After the issuance of 50 percent right share, the paid up capital will reach at Rs 5.4 crore. Its last traded price stood at Rs 3,390 as on July 14, 2016. Purnima Bikas Bank had earned a net profit of Rs. 4.19 in the third quarter of the current fiscal year 2072/73. The paid up capital of the bank remains Rs 20.17 crore. After the issuance of 50 percent, the paid up capital will reach at Rs crore. Its last traded price stood at Rs 594 as on July 14, 2016.