Agricultural Development Bank 50% Right Share book closure on Ashwin 10; Only 4 trading days left

Agricultural Development Bank Limited (ADBL) 9^th AGM held on Baisakh 14, 2073 had approved 2:1(50%) right shares to its shareholders and now the bank has announced book closure date for the same. The right issue was approved by Securities Board of Nepal (SEBON) yesterday. 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. The bank will be  issuing 1, 96, 88, 000 units right share worth Rs 1.96 arba at the face value of Rs 100. Ace Capital Limited has been assigned as the issue manager for the right issue. Agriculture 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. Its paid up capital remains at Rs.10.37 arba (public share of Rs.3.93 arba and irredeemable preference shares of Rs.6.43 arba). After issuance of 50% right share it’s paid up capital will reach Rs 5.89 arba.