Karnali Dev. Bank extends 50% right share issue till Ashad 30; LTP stood Rs 257

Karnali Development Bank Limited (KRBL) has extended its ongoing 2:1 (50%) right share issue till Ashad 30, 2073. Now, the investors have 25 more days to apply for the right issue. The development bank is issuing a total of 4, 00,000 unit right share at the face value of Rs 100. The book closure date for 2:1 right issues had set for Baisakh 14, 2073. Only the shares registered one day ahead of the book closure date i.e. Baisakh 13 are eligible for the right shares. Growmore Merchant Banker limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from any branch of Karnali Bikas Bank as well as from Growmore Merchant Bank located at Durbarmarg, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 12 crore from the existing Rs 8 crore. The bank has authorized capital of Rs 20 crore. Karnali Bikas bank had earned net profit of Rs 15.33 lakh in the third quarter of the current fiscal year 2072/73. Its last traded price stood (LTP) at Rs 241 as on today (June 19, 2016).