Miteri Dev Bank issuing 50% (10.56 lakh units) Right Share from today

Miteri Development Bank Limited (MDB) is issuing 2:1 (50%) right shares to its existing shareholders from today (Kartik 1, 2073). The rights issue will close on Mangsir 5, 2073. Miteri Development Bank is issuing a total 10, 56,369.60 unit right shares at the face value of Rs 100. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashwin 6, 2073 would be eligible to apply for the right shares. Prabhu Capital Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from Prabhu Capital Limited, Kamaladi, Kathmandu and from all branch offices of Miteri Bikas Bank Limited. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 31.69 crore from existing Rs 21.12 crore. The bank has authorized capital of Rs 50 crore. Its public-promoter share structure stands at 51:49 ratio . MDB has earned net profit of Rs 9.72 crore in the fourth quarter of the last fiscal year 2072/73. Its last traded price stood (LTP) at Rs 836 as on October 16, 2016.