Kumari Bank & Synergy Finance 20% & 25% right shares respectively added in SEBON pipeline for approval

Kumari Bank Limited (KBL) and Synergy Finance Limited (SYFL) have been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of 10:2 (20%) and 1:0.25 (25%) right shares respectively. KBL will be issuing 20% (10:2) right share i.e. 1,19,38,991.65 units to its shareholders of worth Rs 1.19 arba. NIBL Capital Markets Limited has been assigned as its issue manager for issuing 20% right share. Its current paid up capital stands at Rs 5.96 arba. After issue of 20% right shares, it will reach to Rs 7.15 arba. To meet the capital requirement of Rs 8 arba, it should hike its capital by Rs 85 crore (around 11.87%). It had earned Rs 70.03 crore in the FY 2073/74 from which no any dividend has been announced yet. Likewise, SYFL will be issuing 25% (10:2.5) right share i.e. 11,86,022.47 units to its shareholders of worth Rs 11.86 crore. SGM of SYFL held on Mangsir 5, 2074 had endorsed the decision to issue right shares. Prabhu Capital Limited has been assigned as its issue manager for issuing 25% right share. Its current paid up capital stands at Rs 47.44 crore. After issue of 25% right shares, it will reach to Rs 59.31 crore. Trading of the company has been halted due to the acquisition process by Best Finance Company Limited (BFC). It had earned Rs 18.18 crore in the FY 2073/74 from which no any dividend has been announced yet.