Kasthamandap Dev. Bank 25% Right Shares book closure on Kartik 9; only 5 trading days left

Kasthamandap Development Bank 8^th Annual General Meeting had approved 4:1 (25%) right share i.e. 1,699,741.70 units to its existing shareholders and the development bank has announced book closure date for the same. As per the notice published today, the book closure date for 25% right issue has been set for Kartik 9, 2073 for one day. Only the shares registered one trading day ahead of the book closure date i.e. Kartik 8, 2073 will be eligible for the right shares. NCM Merchant Banking Limited has been assigned as the issue manager for right share issue. KDBL has paid up capital of Rs 67.98 crore. The development bank has earned net profit of Rs 30.22 crore in fourth quarter of last fiscal year 2072/73. Recently, Kumari Bank and Kasthamandap Development Bank had signed an agreement for the acquisition process. Trading of Kasthamandap Development Bank has been suspended in Nepal Stock Exchange Limited (NEPSE) following the acquisition process.