Kumari Bank to issue 50% (1.34 crore units) Right Share from Chaitra 6; ends on Baisakh 10

Kumari Bank Limited (KBL) will be issuing 2:1 (50%) right shares to its existing shareholders from Chaitra 6, 2073. According to the notice published by the commercial bank today, the right issue will remain open for 35 days before closing on Baisakh 10, 2074. Kumari bank will be issuing a total of 1, 34, 95,832.66 unit right shares at the face value of Rs 100. The book closure date for 50% right issue was set for Fagun 20, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. today (Falgun 19, 2073) are eligible for the right shares. Siddhartha Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Siddhartha Capital, Anamnagar, Kathmandu and from all branch offices of Kumari Bank. After the adjustment of the rights shares, the commercial bank’s total paid-up capital will reach to Rs 4.04 arba from existing Rs 2.69 crore. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 51:49 ratio. The bank is in final process of acquiring Kasthamandap Development Bank, Paschimanchal Finance, Kankrebihar Bikas Bank and Mahakali Bikas Bank. KBL has earned net profit of Rs 27.93 crore in the second quarter of the fiscal year 2073/74 as per its unaudited report.