Last day to secure 40% & 10% right shares of Prabhu Bank & Lumbini Bikas Bank respectively

Today is the last day to secure 40% right shares of Prabhu Bank Limited (PRVU) and Lumbini Bikas Bank Limited (LBBL). The 104^th BOD meeting of the PRVU held on Poush 9, 2074 has set the book closure date on Poush 21, 2074. Thus, only those shareholders owning shares till today Poush 20, 2074 are eligible to participate in the AGM. PRVU will be issuing 2.35 crore units right shares worth Rs 2.35 arba to its existing shareholders at a face value of Rs 100 per share. It will be issuing 10:4 (40%) right share to its shareholders from Magh 7, 2074 to Falgun 13, 2074. Sunrise Capital Market Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 8.24 arba after 40% right share adjustment from existing Rs 5.88 arba. It had posted net profit of Rs 25.07 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 318 as of last trading day. Likewise, LBBL has also set the book closure date on Poush 21, 2074. Thus, only those shareholders holding their shares till today (Poush 20, 2074) i.e. one day ahead of the book closure date are apply for the right shares. Securities Board of Nepal (SEBON) had given final approval to issue 10:1 (10%) right shares of Lumbini Bikas Bank Limited (LBBL) on Poush 13, 2074. Prabhu Capital Limited has been assigned as the issue manager for right share issue. LBBL will be issuing 20,08,878.27 units shares worth Rs 20.08 crore at the face value of Rs 100 each to be issued to the existing shareholders at par. Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%). Its LTP stood at Rs 176 as of last trading day.