Alpine Development Bank to issue 69.33% (18.03 lakh units) Right Share from Ashad 25

Alpine Development Bank Limited (ALDBL) will be issuing 3:2.08  (69.33%) right shares to its existing shareholders from Ashad 25, 2074. According to the notice published by the development company today, the right issue will remain open for 35 days before closing on Shrawan 29, 2074. The development bank will be issuing a total of 18,03,247 unit right shares worth Rs 18.03 crore at the face value of Rs 100. The book closure date for 69.33% right issue is set for Jestha 21, 2074 for one day. Only the shares registered one day ahead of the book closure date i.e. Jestha  20, 2074 are eligible for the right shares. NMB Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NMB Capital, Nagpokhari, Naxal Kathmandu as well as from all branch offices of NMB Bank and Alpine Development Bank. After the adjustment of the rights shares, the bank's total paid-up capital will reach to Rs 44.04 crore from existing Rs 26 crore. The company has authorized capital of Rs 50 crore. Its public-promoter share structure stands at 51:49 ratio. Alpine Development Bank has earned net profit of Rs 3.43 crore in the third quarter of the FY 2073/74. It is under acquisition by Century Commercial Bank Limited.