Metro Development issuing 20:3 right shares from Sharwan 14; book closure was on Ashad 22

ShareSansar July 12:

Metro Development Bank Limited (METRO) will be issuing Right Shares from 14 Sharwan, 2072. Company has offered right shares of face value Rs 100 at the ratio of 20:3 for its existing shareholders.

Pokhara based Metro Development Bank's 5th AGM held on Kartik 29, 2071 had endorsed 20:3 (15%)

The closing date for the right issue has been set for Bhadra 16. NCM Merchant Banking Limited is the issue manager of this issue.

After the issuance of the approved 15 percent right shares of the development bank, the Paid up capital will increase from the existing Rs 185.66 million to Rs 213.52 million.

The bank had given 16% bonus share to its shareholders from the profit it made in 2070/71 FY.

Metro Development Bank Limited had a net profit of Rs.34.23 million in its 3rd quarter of the current fiscal year 2071/72.

The book closure date for 2, 78,504.4 units right issue had been set for Ashad 22. Only the shares registered one day ahead of the book closure date i.e Ashad 21 will be eligible for the right shares.
 
Its last traded price stood at Rs 305 as on July 8.