Alpine Dev. Bank to float 8.20 lakh unit right shares from Shrawan 19; Paid up capital to reach Rs 20 crore

Alpine Development Bank Limited (ALDBL) has called on its existing shareholders to start applying for 3:2.08 (69.49%) right share from Shrawan 19, 2073. As per the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Bhadra 21, 2073. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashad 21, 2073 would be eligible to apply for the right shares. Alpine Development Bank will be issuing a total of 820,000 unit right share at the face value of Rs 100. NMB Capital limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of Alpine Development Bank and NMB Bank also from NMB Capital Limited located at Naksal, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 20 crore from the existing Rs 11.80 crore. The bank has authorized capital of Rs 20 crore. Alpine Development Bank has earned net profit of Rs 2.41 crore in the third quarter of the fiscal year 2072/73. Its last traded price stood at Rs 460 as on July 14, 2016.