Cosmos Development Bank extends ongoing 100% right share issue till Bhadra 28

Cosmos Development Bank Limited (CSDBL) has extended its ongoing 1:1 (100%) ratio right share issue till Bhadra 28, 2073. Now, the investors have 14 more days to apply for the right issue. The development bank has been issuing right shares from Shrawan 11, 2073. Comos Development Bank is issuing a total of 5, 03, 125 unit right share at the face value of Rs 100. Civil Capital Market Limited is the issue manager for the right issue. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Shrawan 3, 2073 are eligible to apply for the right shares. Interested shareholders can collect the application forms from Civil Capital Market Limited, Kamaladi, Kathmandu and from central and all branch offices of Cosmos Development Bank. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 10.06 crore from existing Rs 5.03 crore. The bank has authorized capital of Rs 20 crore. Its public-promoter share structure stands at 60:40 ratio. CSDBL had earned a net profit of Rs. 93.31 lakh in the third quarter of the current fiscal year. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its last traded price stood (LTP) at Rs 442 as on August 28, 2016.