Book closure for 1:1 right issue of Nepal Community Dev. Bank on Baisakh 17; LTP stood Rs 456

Nepal Community Development Bank Limited (NCDB) 5^th AGM held on Poush 26, 2071 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 1:1 right issues has been set for Baisakh 17, 2073. Only the shares registered one day ahead of the book closure date i.e. Baisakh 16 will be eligible for the right shares. NCDB had earned net profit of Rs.1.35 crore in fourth quarter of the last fiscal year 2071/72. The paid up capital of the development bank stands at Rs 10 crore and after issuance of 1:1 right share the paid up capital of the development bank will rise to Rs 20 crore. . NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Its last traded price stood at Rs 456 as on April 11, 2016. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue.