Araniko Dev. Bank issuing 36% (9.28 lakh unit) right shares from today

Araniko Development Bank Limited (ARDBL) is issuing 10:3.6 (36%) ratio right shares to its existing shareholders from today (Kartik 8, 2073). The development bank will close on Mangsir 12, 2073. Araniko Development Bank will be issuing a total of 9, 28,190.34unit right shares at the face value of Rs 100. The book closure date for 36% right issue was on Ashwin 28, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Ashwin 20, 2073 are eligible for the right shares. Siddhartha Capital Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from Siddhartha Capital Limited, Anamnagar, Kathmandu, all branch offices of Araniko Development Bank and Siddhartha Bank. After the adjustment of the rights shares, the microfinance total paid-up capital will reach to Rs 35.06 crore from existing Rs 25.78 crore. The bank has authorized capital of Rs 64 crore. Its public-promoter share structure stands at 53.9:46.1 ratio. Its last traded price (LTP) stood at Rs 370 as on October 16 2016. ARDBL had earned net profit of Rs. 5.84 crore in the fourth quarter of the last fiscal year as per unaudited report.