Last Day to Be Eligible for 1: 1.5 Rights Offering of Corporate Development Bank (CORBL)

Today is the last day to be eligible for the rights offering of Corporate Development Bank Limited (CORBL). Poush 26 is the book closure date. Thus, shareholders maintained till today are eligible to apply for the right shares when the company opens its issue.

The Securities Board of Nepal (SEBON) has already approved the rights proposal of Corporate Development Bank Limited (CORBL). The company had submitted the proposal on Poush 26 last year. It has now been approved by the regulator on Poush 01.

The company will now issue the right shares in the ratio of 1:1.5. Thus, an investor holding 100 shares of CORBL can apply for 150 shares in the right offering. A total of 30 lakh unit shares will be issued at a par value of Rs. 100 per share. Civil Capital has been appointed the issue manager.

As of writing, CORBL has an LTP of Rs. 904.