Agricultural Development Bank to refund auction money to non-allottee investors from Falgun 27

Agricultural Development Bank Limited (ADBL) will be refunding 19,68,575 units ordinary right share auction money to the non-allottee investors from Falgun 27, 2073. The non- allottee  investors money will be refunded in their respective bank accounts. Agricultural Development Bank Limited (ADBL) had auctioned its 19,68,575 units of ordinary right share to the general public from Magh 27, 2073 till Falgun 12, 2073. The closed bid was opened on Falgun 15, 2073. Ace Capital Limited has been assigned as the issue manager for this auction. The cut off price for 19,68,575 units ordinary shares stood at Rs 361. Agricultural Development Bank had earned Rs 90.66 crore in the second quarter of the current fiscal year 2073/74. ADBL has proposed 20% bonus share for the FY 2072/73. After the capitalization of bonus, auctioned shares and 50% right share, the paid up capital of the commercial bank will reach Rs 7.08 arba, in addition to irredeemable preference share capital worth Rs 5.43 arba. It will need to further hike its capital by around 13% to meet NRB’s minimum requirement of Rs 8 arba by the end of FY 2073/74. Its last traded price stood at Rs 449 as of March 6, 2017. Also, for the further information go through the website of Ace Capital, http://www.acecapital.com.np.