Kumari Bank announces book closure date on Baisakh 10; Shareholders to get 20% right shares

Kumari Bank Limited (KBL) has announced book closure date for the issuance of right share to the shareholders. The bank will be issuing 20% right shares for the shareholders.

The book closure date for the right share issuance has been set on Baisakh 10, 2075 i.e. the shareholders holding the shares of Kumari Bank till Baisakh 09 will be eligible for the 10:2 right shares.

NIBL Ace Capital has been appointed as the issue manager for the right issue.

Currently, the paid-up capital of the bank stands at Rs 5.96 arba. After the issuance of the right shares, the paid-up capital of the bank will stand at Rs 7.15 arba. The bank’s paid up capital will still be short by 85 crore from the requirement set by Nepal Rastra Bank which is much likely to be attained by issuance bonus share.