Last day to apply 20% right share of Prabhu Bank

Existing shareholders have one more day to file for the 10:2 (20%) ratio right shares of Prabhu Bank Limited (PRVU). The commercial bank has been issuing right shares from Falgun 16, 2072 and today is the closing day for the same. The bank has offered 64, 17,770 unit right shares at face value of Rs 100 for its existing shareholders. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashwin 14, 2072 would be eligible to apply for the right shares. Nabil Investment Banking limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of Prabhu Bank Limited as well as from Nabil Investment Banking Limited located at Central Plaza, Narayanchowk, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 3.84 arba from the existing Rs 3.20 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stand at 64.58:35.42 ratio. Prabhu Bank has earned net profit of Rs. 40.56 crore in the second quarter of the fiscal year 2072/73. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue of Prabhu Bank. Prabhu bank had undergone merger process with Grand bank Nepal Limited.