Last day to clinch 160% & 40% right shares of Prime Life Insurance & Deva Bikas Bank respectively

Today is the last day to clinch 160% right shares of Prime Life Insurance Company Limited (PLIC). The insurance company has set the book closure date on Falgun 17, 2074. Thus, only those shareholders holding their shares till today (Falgun 16, 2074) i.e. one day ahead of the book closure date are eligible to apply for the right shares. Securities Board of Nepal (SEBON) had given final approval to issue 160% right shares of Prime Life Insurance Company Limited (PLIC) on Magh 28, 2074. Now, PLIC will be issuing 97,63,200 units right shares worth Rs 97.63 crore to its existing shareholders at a face value of Rs 100 per share from Falgun 27, 2074 to Baisakh 2, 2075. Siddhartha Capital Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 1.78 arba after adjustment of 160% right share and 12.50% bonus shares (that the company announced from the net profit of FY 2073/74) from existing Rs 61.02 crore. To meet the capital requirement of Rs 2 arba till the end of Ashad 2075, it should further hike its capital by Rs 22 crore (around 12 %). It had posted net profit of Rs 11.51 crore in the second quarter of the FY 2074/75. Its LTP stood at Rs 1,500 as of last trading day. Today is also the last day to grab 40% right shares of Deva Bikas Bank Limited (DBBL). The book closure date by the development bank has been set on Falgun 17, 2074. Thus, only those shareholders holding their shares till today (Falgun 16, 2074) i.e. one day ahead of the book closure date are eligible to apply right shares. Securities Board of Nepal (SEBON) had given final approval to issue 40% right shares of Deva Bikas Bank Limited on Magh 26, 2074. NIBL Capital has been appointed as the issue manager for the right issue. Currently, the paid up capital of the bank stands at Rs 1.63 arba and after the issuance of right shares (65.33 lakh unit), its paid up capital will reach to Rs 2.28 arba. ICRA Nepal provides Grade 4 rating to upcoming right shares of DBBL. It had earned Rs 14.06 crore in the second quarter of the FY 2074/75. Its LTP stood at Rs 171 as of last trading day.