Laxmi Bank to issue 100% (3.15 crore units) Right Shares from Baisakh 3; Book closure tomorrow

Laxmi Bank Limited (LBL) will be issuing 1:1 (100%) right shares to its existing shareholders from Baisakh 3, 2074. The rights issue will remain open for 35 days before closing on Jestha 7, 2074. Laxmi Bank will be issuing a total of 3,15,90,303 unit right shares at the face value of Rs 100. The book closure date for 100% right issue has been set for Chaitra 18, 2073. Only the shares registered one trading day ahead of the book closure date i.e. until today are eligible for the right shares. Siddhartha Capital Limited has been assigned as the issue manager for right share issue. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.31 arba from the existing Rs 3.15 arba. The bank has authorized capital of Rs 10 arba. Interested shareholders can collect the application forms from Siddhartha Capital, Naxal, Kathmandu, and all branch offices of Laxmi Bank as well as from Laxmi Capital Markets Limited. LBL has proposed 18.29% bonus shares from the profits it earned in FY 2072/73. All right share allottees are also eligible for 18.29% bonus shares. After the issuance of 100% right and 18.29% bonus, its paid up capital will reach Rs 7.47 arba.