Janata Bank & NMB Microfinance right shares deadline extended till tomorrow; only one day left

Janata Bank Nepal Limited (JNBL) has extended its 2:1 (50%) right share deadline till tomorrow (Poush 11, 2073). Earlier the right share deadline was set for today. The commercial bank has been issuing right shares from Mangsir 1, 2073. As per an official of Janata Bank, ‘The deadline has been extended till tomorrow as today is public holiday for Christmas.’ This is the second time the bank has extended its right share closing time. Earlier, the commercial bank’s 202^nd BOD meeting had decided to postpone the right share deadline which was supposed to be on Poush 5, 2073. Janata Bank has been issuing a total of 10,300,000 unit right shares at the face value of Rs 100. The book closure date for 50% right was set for Kartik 11, 2073. Only the shares registered one day ahead of the book closure date i.e. Kartik 10, 2073 were eligible for the right shares. NCM Merchant Banking Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from NCM Merchant Banking Limited, Kamalpokhari, Kathmandu and from all branch offices of Janata Bank Limited. Its paid up capital remains at Rs 2.06 arba. After the adjustment of 50 percent right share, its paid up capital will reach to Rs 3.09 arba from current Rs 2.06 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 51:49 ratio. JBNL has earned net profit of Rs 6.39 crore in the first quarter of the fiscal year 2073/74. Trading of Janata Bank has been halted in Nepal Stock Exchange Limited following its merger process with Triveni Bikas Bank Limited.  NMB Microfinance Bittiya Sanstha Limited (NMBMF) has also extended its 1:1.2 (120%) right share deadline till tomorrow (Poush 11, 2073). Earlier the right share deadline was set for today. The commercial bank has been issuing right shares from Mangsir 6, 2073. The deadline has been extended due to the public holiday of Christmas. NMB Microfinance has been issuing a total of 5, 52, 000 unit right shares at the face value of Rs 100. The book closure date for 120% right issue was set from Kartik 18, 2073 to till Mangsir 18, 2073 for a month. Only the shares registered one trading day ahead of the book closure dates i.e. Kartik 11, 2073 were eligible for the right shares. Laxmi Capital Market Limited has been assigned as the issue manager for the right share issue of NMB Microfinance. Interested shareholders can collect the application forms from Laxmi Capital Market Limited, New Baneshwor, Kathmandu and from NMB Capital Limited, Naagpokhari, Kathmandu. Also the application forms are available at Laxmi Bank Limited, Biratnagar, Nepalgunj, Dhangadi branch and at Hemja, Kaski, Udayapur, Taplejung, Salleri and Solukhumbu branch of NMB Microfinance. NMBMF had proposed 25 percent bonus share to its shareholders. The decision is subjected to approval from its upcoming 4^th AGM which is going to be held on Mangsir 18, 2073. NMBMF has earned net profit of Rs 2.98 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. Its paid up capital stands at Rs 7.41 crore and after the issuance of 120 percent right share, its paid up capital will rise to Rs 16.30 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its Last Traded Price stood at Rs 1,490 as December 22, 2016.