Book closure for 100% right issue of Cosmos Dev. Bank  on Shrawan 3; LTP stood Rs 623

Cosmos Development Bank Limited (CSDBL) 5^th AGM held on Mangsir 19, 2072 had approved 1:1 (100%) right shares to their shareholders and now the bank has announced the book closure date for the same. The book closure date for 100% right issues has been set for Shrawan 3, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 2, 2073 will be eligible for the right shares. Cosmos Development Bank had earned a net profit of Rs. 93.30 lakh in the third quarter of the current fiscal year. The paid up capital of the bank stands at Rs 5.03 crore. After the issuance of 100 percent, the paid up capital will stand at Rs 10.06 crore. Civil Capital Limited has been assigned as the issue manager for the right issue. Its last traded price stood at Rs 623 as on July 6, 2016. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue.