Deadline to apply for the 25% right shares of Synergy Finance extends; Applications can be made till Bhadra 11 for applicants outside valley & till Bhadra 12 for applicants in Kathmandu valley

The deadline for applying for the 25% right shares of Synergy Finance has been extended. The applications can be placed till Bhadra 11 for the applicants outside Kathmandu valley and till Bhadra 12 for applicants inside valley.

The finance company is issuing 11,86,022.47 unit right shares to its shareholders at par value of Rs 100.

Prabhu Capital has been appointed as the issue manager for the right issuance.

For the purpose of the right share issuance, the shareholders register book had closed on Jestha 30, 2075 i.e. the shareholders holding shares of the company till Jestha 29 are eligible to receive the right shares. Since its trading was suspended since Ashwin 26, 2074 due to acquisition by Best Finance Company Limited (BFC), shareholders with shares traded until Ashwin 25, 2074 are eligible to apply for the right shares.

After the adjustment of 25% right shares, the paid-up capital of the company will reach Rs 59.30 crore from the existing Rs 47.44 crore. Its acquisition has completed in a swap ratio of 1:1 after which the paid-up capital of the merged entity will reach Rs 88 crore. Synergy Finance has already been acquired by Best Finance and the joint transaction in the name of Best Finance Company has also started.