Agricultural Dev. Bank issuing 50% (1.96 crore units) right shares from today

Agricultural Development Bank Limited (ADBL) is issuing 2:1 (50%) right shares to its existing shareholders from today (Kartik 3, 2073). The rights issue will close on Mangsir 7, 2073. Agricultural Development Bank is issuing a total of 1, 96, 88,000 unit right shares at the face value of Rs 100. The book closure date for 50% right issues has been set for Ashwin 10, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Ashwin 9, 2073 will be eligible for the right shares. Ace Capital Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from Ace Capital Limited, Lalcolony, Laldurbar, Kathmandu, all branch offices of Agricultural Development Bank and Ace Development Bank Limited. After 50% right share adjustment, ADBL’s total paid up capital will reach Rs. 11.33 ( irredeemable preference share of Rs 5.43 arba and public share of Rs 5.90 arba)  Its authorized capital remains at Rs 18 arba. Its last traded price (LTP) stood at Rs 670 as on October 18, 2016. Agricultural Development Bank has earned net profit of Rs 2.57 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report.