Hamro Bikas Bank 200% Right Share book closure on Baisakh 11; Only 7 trading days left

Securities Board of Nepal (SEBON) had provided final approval to Hamro Bikas Bank Limited (HAMRO) to issue 200% right share on Chaitra 17, 2073 and now, the development bank has published the book closure date for the same. As per the notice published in Nepal Stock Exchange today, the book closure date for 200% right issue has been set for Baisakh 11, 2074. Only the shares traded one trading day ahead of the book closure date i.e. Baisakh 10, 2073 will be eligible for the right shares HAMRO will be issuing 30,58,338.75 units right shares worth Rs 30.58 crore to be floated at a par value of Rs 100 per unit. NIBL Capital Markets Limited has been assigned as the issue manager. HAMRO has earned net profit of Rs 92.16 lakh in the second quarter of the FY 2073/74. It has a paid up capital of Rs 15.29 crore. After the issuance of right shares in the ratio 1:2, its paid up capital will reach Rs 45.88 crore. As per NRB’s directive for all 1-district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, HAMRO will need to increase its capital by a further 9% only.