Book closure for 50% Right Shares of Triveni Bikas Bank on Kartik 1; only 9 trading days left

Triveni Bikas Bank Limited (TBBL)’s 12^th AGM held on Poush 27, 2072 had approved 50% right share i.e.  4,100,076.42 units shares to its existing shareholders and the development bank has announced book closure date for the same. As per the notice published by the development bank today, the book closure date for 50% right issue has been set for Kartik 1, 2073 for one day. Only the shares registered one trading day ahead of the book closure date i.e. Ashoj 20, 2073 will be eligible for the right shares. Ace Capital Limited has been assigned as the issue manager for right share issue. TBBL BOD meeting held on Bhadra 22, 2073 has proposed 19 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. TBBL had earned net profit of Rs. 19.25 crore in the fourth quarter of the last fiscal year. The paid up capital of the development bank stands at Rs 82 crore. After the issuance of 50 percent right share, the paid up capital will reach to Rs 1.23 arba. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed right issue.