Last day to apply 100% Right Share of Mission Dev. Bank; Offer ends today

Existing shareholders have one more day to file for the 1:1 (100%) ratio right shares of Mission Development Bank Limited (MIDBL) . The development bank has been issuing right shares from Chaitra 3, 2072 and today is the closing day for the same. Mission Development Bank is issuing a total of 19,49,250 unit right shares at the face value of Rs 100. The book closure date for 100% right issue has been set for Falgun 23, 2073 for one day. Only the shares registered one trading day ahead of the book closure date i.e. Falgun 22, 2073 are eligible to apply for the right shares. Vibor Capital Limited is assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Vibor Capital Limited, Lalitpur, Kathmandu, all branch offices of Mission Development Bank . After the adjustment of the rights shares, the development bank’s total paid-up capital will reach to Rs 38.98 crore from existing Rs 19.49 crore. The development bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 70:30 ratio. Its last trade price (LTP) stood at Rs 455 as on April 3, 2017. Mission Development Bank Limited has earned a net profit of Rs 3.66 crore in the second quarter of the FY 2073/74. As per NRB’s directive for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, MIDBL will need to issue a further capital hike of around 28.28%.