Nerude Laghubitta 50% Right Share book closure on Falgun 30; Only 7 trading days left

Nerude Laghubitta Bikas Bank (NLBBL) 9^th AGM held on Poush 29, 2072 had approved 2:1 (50%) right share to its shareholders and now, the microfinance company has published the book closure date for the same. As per the notice published by the microfinance company today, the book closure date for 50% right issue has been set for Falgun 30, 2073. Only the shares traded one trading day ahead of the book closure date i.e. Falgun 26, 2073 will be eligible for the right shares. Nerude Laghubitta will be issuing a total of 9,00,000 units right shares at the face value of Rs 100. NCM Merchant Banking Limited has been assigned as the issue manager for the right issue. Nerude Laghubitta had earned net profit of Rs. 4.65 crore in the second quarter of the current fiscal year 2073/74. The paid up capital of the bank stands at Rs 18 crore. The company has also announced 20% bonus share for the FY 2073/74. After issuance of bonus and right shares, its paid up capital will reach Rs 30.6 crore. ICRA Nepal, the credit rating agency, has assigned ‘Grade 4’ rating to the 50% right issue of Nerude Laghubitta Bikas Bank, indicating below-average fundamentals. Its last traded price (LTP) stood at Rs 1,215 as on February 26, 2016.