Mount Makalu Dev. Bank to issue 150% (3.90 lakh unit) Right Share from Bhadra 16

Mount Makalu Development Bank Limited (MMDBL) will be issuing 1:1.5 (150%) right shares to its existing shareholders from Bhadra 16, 2073. According to the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Ashwin 19, 2073. Mout Makalu will be issuing a total of 3, 90, 000 unit right shares at the face value of Rs 100. The book closure date for 150% right issues has been set for Shrawan 21, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 20 will be eligible for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu and all branch offices of Mount Makalu Development Bank. After the adjustment of the rights shares, the bank total paid-up capital will reach to Rs 6.50 crore from existing Rs 2.60 crore. The bank has authorized capital of Rs 8 arore. Its public-promoter share structure stands at 70:30 ratio. Its last trade price (LTP) stood at Rs 1040 as on August 11, 2016. Mount Makalu has earned net profit of Rs 39.87 lakhs in the fourth quarter of last fiscal year 2072/73.