6 BFIs added to SEBON Right Share pipeline for approval

Many bank and financial institutions are coming up with right share issues. The number of companies seeking right share approval from Securities Board of Nepal (SEBON) is continuously expanding. Lately numbers of BFIs have been listed in right share approval pipeline of SEBON. Lalitpur Finance Limited (LFC), Nagbeli Laghubitta Bikas Bank Limited (NBBL), Araniko Bikas Bank Limited (ARDBL), Saptakoshi Development Bank Limited (SKDBL), Sewa Bikas Bank Limited and Muktinath Bikas Bank Limited (MNBBL) had applied in Securities Board of Nepal (SEBON) for the issuance of right share. Altogether 14,881,585.25 unit’s right shares have been added in Sebon right share pipeline. Lalitpur Finance had applied in SEBON for the approval to issue 1:1 (100%) right share worth Rs 18.79 crore to its existing shareholders. The issue manager for the right issue is Global IME Capital Limited. The finance company 19^th AGM held on Baisakh 29, 2073 had endorsed 1:1 right shares to their shareholders. Lalitpur Finance is in loss of Rs 69.16 lakh in the third quarter of the fiscal year 2072/73. It has paid up capital of Rs 18.79 crore and after issuance of 100 percent right share it’s paid up capital will rise to Rs 37.58 crore. Nagbeli Laghubitta Bikas Bank had applied in SEBON for the approval to issue 2:1 (50%) right share worth Rs 12.50 crore to its existing shareholders. NMB Capital Limited has been appointed as the issue manager for the right share issue. Nagbeli Laghubitta 5^th AGM held on Falgun 21, 2072 had approved 50% right share issue to its shareholders. The microfinance company had earned net profit of RS 2.50 crore in the third quarter of the fiscal year 2072/73. After the right issue the bank’s paid up capital will reach Rs 3.75 crore. Araniko Development Bank had been added in Sebon for approval. The bank will be floating 10:3.6 (36%) worth Rs 25.78 crore right shares to its existing shareholders. Siddhartha Capital Limited has been appointed as the issue manager for the right share issue. Araniko Development Bank 10^th AGM held on Falgun 21, 2072 had approved 36% right share issue to its shareholders. ARDBL had earned a net profit of Rs 3.58 crore in the third quarter of the fiscal year 2072/73. After the right issue, the bank’s paid up capital will reach Rs 35.06 crore. Sewa and Saptakoshi Development Bank had applied in Sebon for approval of 1:1.2 & 1:1 ratio right share respectively to its existing shareholders. NMB Capital Limited has been appointed as the issue manager for the right share issue of both development banks. Sewa Bikas Bank has earned a net profit of Rs 7.31 crore in the third quarter of the current fiscal year. It’s paid up capital remains at Rs. 42.55 crore. After distribution of 1:1.2 right shares it’s paid up capital will reach Rs 93.62 crore. Saptakoshi Development Bank has earned a net profit of Rs 28.94 lakh in the third quarter of the current fiscal year. It’s paid up capital remains at Rs. 10 crore. After distribution of 1:1 right shares it’s paid up capital will reach Rs 20 crore. Muktinath Bikas Bank had applied in Sebon for the approval of 2:1 right share on Ashad 26, 2073. NIBL Capital Market limited has been appointed as the issue manager for the right share issue. Muktinath Bikas Bank 9^th AGM held on Poush 28, 2072 had approved 50% right share issue to its shareholders. Muktinath Bikas Bank earned a net profit of Rs 24.82 crore in Q3 of the current fiscal year. It’s paid up capital remains at Rs.83.84 crore. After distribution of 50 percent right share it’s paid up capital will rise to Rs 1.25 arba.