Kumari Bank 50% right share added in SEBON pipeline

Kumari Bank Limited (KBL) has been added in Securities Board of Nepal (SEBON) right share pipeline to seek approval to issue 2:1 (50%) right share. Siddhartha Capital Limited has been assigned as the issue manager for the right share issue. Kumari Bank’s Special General Meeting (SGM) held on Kartik 29, 2073 had endorsed 50 % right share i.e. 13,495,832.66 units to its existing shareholders. Kumari Bank has earned net profit of Rs 13.74 crore in the first quarter of the fiscal year 2073/74. Kumari Bank is in the process of acquiring Kasthamandap Development Bank, Mahakali Bikas Bank, Kakrebihar Bikas Bank and Paschimanchal Finance Limited . Its Last Traded Price (LTP) stood at Rs 524 as on January 3, 2017.