Book closure for 120% right share of Nepal Community Dev. Bank on Ashwin 18; Only 6 trading days left

Securities Board of Nepal (SEBON) had provided final approval to Nepal Community Development Bank Limited (NCDB) for issuing 120% (1:1.20) right share to its shareholders on Bhadra 25, 2074. The development bank has announced Ashwin 18, 2074 as the book closure date for the same. Only those shareholders of the development bank having shares one trading day ahead of the book closure date i.e. within Ashwin 17, 2074 are eligible to apply for the right shares. The bank will be floating 26.43 lakh units right shares at Rs 100 per share. NIBL Capital Markets Limited has been appointed as its issue manager. Nepal Community had earned net profit of Rs 3.61 crore in last FY 2073/74. NCDB, which opted for issuing 120% right share after cancellation of acquisition by Shangri-la Development Bank, will have hiked its paid-up capital to Rs 48.46 crore from existing Rs 22.29 crore. Its last traded price (LTP) stand at Rs 297 as on September 17, 2017.