Book closure for 120% right share & 25% bonus share of NMB Microfinance on Kartik 18; AGM on Mangsir 18

NMB Microfinance Bittiya Sanstha Limited (NMBMF) SGM held on Baisakh 25, 2073 had approved (1:1.2)120% right share i.e. 552,000 units to its existing shareholders and the microfinance company has published a book closure date for the same. As per the notice published by the company today, the book closure date for 120% right issue has been set from Kartik 18, 2073 to till Mangsir 18, 2073 for a month. Only the shares registered one trading day ahead of the book closure date i.e. Kartik 17, 2073 will be eligible for the right shares. NMBMF had proposed 25 percent bonus share to its shareholders. The decision is subjected to approval from Nepal Rastra Bank and its upcoming AGM. The microfinance company will be holding Annual General Meeting (AGM) on Mangsir 18, 2073. The book closure date for the bonus share will also be on Kartik 18, 2073 Laxmi Capital Markets Limited has been assigned as the issue manager for right share issue. NMBMF has earned net profit of Rs 2.98 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 7.41 crore and after the issuance of 120 percent right share it’s paid up capital will rise to Rs 16.30 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its Last Traded Price stood at Rs 4,120 as on October 23, 2016.