Book closure for 10% right shares of Lumbini Bikas Bank on Poush 21; LTP at Rs 177

Lumbini Bikas Bank Limited (LBBL) has set the book closure date. As per the notice published by the development bank today, the bank has set the book closure date on Poush 21, 2074. Thus, only those shareholders holding their shares till Poush 20, 2074 i.e. one day ahead of the book closure date are apply for the right shares. Securities Board of Nepal (SEBON) had given final approval to issue 10:1 (10%) right shares of Lumbini Bikas Bank Limited (LBBL) on Poush 13, 2074. Prabhu Capital Limited has been assigned as the issue manager for right share issue. LBBL will be issuing 20,08,878.27 units shares worth Rs 20.08 crore at the face value of Rs 100 each to be issued to the existing shareholders at par. Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%). Its LTP stood at Rs 177 as of last trading day. Announcement: