Book Closure for 30% right share of Om Dev. Bank on Bhadra 30; only 6 trading days left

Om Development Bank Limited (ODBL) has set book closure date for its upcoming 10:3 (30%) right shares. As per the notice published by the company today, the development bank has decided to close the register of their shareholders on Bhadra 30, 2073 for the purpose of issuing right share. Only those shareholders that have shares traded ahead of the book closure date will be eligible to apply for the right shares. SEBON had given approval for the issuance of right shares on Bhadra 1, 2074. NIBL Capital Markets Limited has been assigned as the issue manager for right share issue. ODBL will now be issuing 49,31,835 units right shares to its shareholders, each to be floated at a par value of Rs 100 per share. Om Development Bank has recently resumed its trading in Nepal Stock Exchange Limited (NEPSE) after successful merger process with Manaslu Bikas Bank Limited (MSBBL). ODBL had earned net profit of Rs 43.34 crore till the end of fourth quarter of FY 2073/74. Its paid up capital currently stands at Rs  1.64 arba and after adjustment of right share its paid up capital will reach Rs 2.13 arba. As per NRB’s directive for all national level development banks, the bank should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74.