Book closure for 40% right shares of Prabhu Bank on Poush 21; LTP at Rs 344

Prabhu Bank Limited (PRVU) has set the book closure date for the upcoming 10:4 right share issue. As per the notice published in NEPSE today, the 104^th BOD meeting of the bank held on Poush 9, 2074 has set the book closure date on Poush 21, 2074. Thus, only those shareholders owning shares till Poush 20, 2074 are eligible to participate in the AGM. Securities Board of Nepal (SEBON) had given final approval to issue 10:4 (40%) right shares of Prabhu Bank Limited (PRVU) on Poush 6, 2074. PRVU will be issuing 2.35 crore units right shares worth Rs 2.35 arba to its existing shareholders at a face value of Rs 100 per share. Sunrise Capital Market Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 8.24 arba after 40% right share adjustment from existing Rs 5.88 arba. It had posted net profit of Rs 25.07 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 344 as of last trading day.