Nepal Community & Karnali Dev. Bank 100% & 50% right share issuance from Baisakh 30 & Jestha 2 respectively

Nepal Community Development Bank (NCDB) will be issuing 1:1 (100%) right share to its existing shareholders from Baisakh 30, 2073. As per the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Ashad 1, 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. NCDB had earned net profit of Rs 47 lakh in second quarter of the last fiscal year 2071/72. 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 411 as on April 24, 2016. Likewise, Karnali Development Bank Limited (KRBL) has called on its existing shareholders to start applying for 2:1(50%) right share from Jestha 2, 2073. According to the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Ashad 5 2073. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Baisaskh 14, 2073 (tomorrow) would be eligible to apply for the right shares. Karnali Development Bank is issuing a total of 4, 00,000 unit right share at the face value of Rs 100. Growmore Merchant Banker limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of Karnali Bikas Bank as well as from Growmore Merchant Bank located at Durbarmarg, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 12 crore from the existing Rs 8 crore. The bank has authorized capital of Rs 20 crore. Karnali Bikas bank had earned net profit of Rs 16.92 lakh in the second quarter of the current fiscal year 2072/73. Its last traded price stood (LTP) at Rs 198 as on April 24, 2016.