Last day to apply for the 281% right shares of Progressive Finance; Paid-up capital to reach Rs 80.01 crore

Tue, Oct 9, 2018 8:32 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Last day t...

Today is the last day to apply for the 281% right share issue of Progressive Finance Limited (PROFL).

The finance company is issuing 59,01,000 shares for its shareholders at a par value of Rs 100.

NIBL Ace Capital has been appointed as the issue manager for the right share auction. The interested shareholders can apply by submitting the forms in the financial institutions with C-ASBA service or through Meroshare.

Care Ratings Nepal had assigned Grade 5 rating to the right shares of PROFL indicating poor fundamentals.

The finance company’s current capital of Rs 21 crore will increase to Rs 80.01 crore after the adjustment of 281% right shares.