Nepal Community Dev. Bank to issue 1:1 right share from today; LTP at Rs 322

Nepal Community Development Bank Limited(NCDB) is issuing 1:1 (100%) right share to its existing shareholders from today (Baisakh 30, 2073). Only shareholders who have bought the shares and transferred them to their name before the book closure date on Baisakh 17, 2073 would be eligible to apply for the right shares. Nepal Community Development Bank is issuing a total of 10, 00,000 unit right share at the face value of Rs 100. The right issue will close on Ashad 1, 2073. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from any branch of Nepal Community Development Bank as well as from NIBL Capital Markets Limited located at Lazimpat, Kathmandu. After the adjustment of the rights shares, the development bank’s total paid-up capital will reach to Rs 20.95 crore from the existing Rs 10.95 crore. The bank has authorized capital of Rs 30 crore. Its promoter public share ratio stand at 70:30. NCDB had earned net profit of Rs.1.35 crore in second quarter of the last fiscal year 2072/73. Its last traded price stood at Rs 322 as on May 11, 2016.