Hamro Bikas Bank issuing 200% right shares from today; offer ends on Ashad 11

Hamro Bikas Bank Limited (HAMRO) is issuing 200% right shares (30,58,338.75 units) to its shareholders from today (Jestha 7, 2074). The rights issue will remain open for 35 days before closing on Ashad 11, 2074. The book closure date for the 200% right issue was set for Baisakh 11, 2073. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 10, 2073 are eligible to apply for the right shares. NIBL Capital Markets Limited is the issue manager for the right issue. Interested applicants can collect application forms from NIBL Capital Markets  Limited, Lazimpat,  , Kathmandu. Also from designated branches of Hamro Bikas Bank Limited and Nepal Investment Bank Limited. HAMRO has earned net profit of Rs 3.10 crore in the third 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.