Last day to apply 25% right share of Kanchan Dev. Bank; LTP stood Rs. 308

Existing shareholders have one more day to file for the 4: 1(25%) ratio right shares of Kanchan Development Bank Limited (KADBL). The development bank has been issuing right shares from Poush 9, 2072 and today is the closing day for the same. The bank has offered 3, 30,000 unit right shares at face value of Rs 100 for its existing shareholders. The issue manager of this right share is Global IME Capital Limited. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Mangsir 24, 2072 would be eligible to apply for the right shares. Eligible shareholders can collect the application forms from the any branch of Kanchan Development bank as well as from the Global IME Capital located at Rastriya Nachghar, Jamal, Kathmandu. After the adjustment of the rights shares, the finance’s total paid-up capital will reach to Rs16.50 crore from the existing Rs 13.20 crore. The bank has an authorized capital and issued capital of Rs 20 crore and Rs 16.50 crore respectively. Its promoter- public ratio is at 70% to 30%. The bank might convert its 19% promoter share into public share making the promoter- public share 51% to 49% in the near future. KADBL last trading price (LTP) stands at Rs 308 as on January 10, 2016.