Book closure for 25% right issue of Shangri-La Dev. Bank on Magh 21; Upcoming AGM to endorse 20% bonus share

Shangri-La Development Bank Limited (SADBL) 10^th AGM held on April 13, 2015 had approved 4:1 (25%) right shares to their shareholders and now the bank has announced the book closure date for the same. Shangri-La Development Bank upcoming AGM will be held on Falgun 14, 2072. The AGM is set to approve 20.85 stock dividend to its shareholders. The book closure date for 4:1 right issues has been set for Magh 21. Only the shares registered one day ahead of the book closure date i.e. Magh 20 will be eligible for the right shares. SADBL had earned a net profit of Rs.3.19 crore in the first quarter of the current fiscal year. The paid up capital of the bank stands at 73.60 crore. After the issuance of 25 percent right share, the paid up capital will stand at Rs 92 crore. NMB Capital Limited has been assigned as the issue manager. Its last traded price stood at Rs 502 as on January 27, 2016. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue.