NMB Microfinance issuing 120% (5.52 lakh unit) right share from today

NMB Microfinance Bittiya Sanstha Limited (NMBMF) is issuing 1:1.2 (120%) right shares to its existing shareholders from today (Mangsir 6, 2073). The rights issue will close on Poush 10, 2073. NMB Microfinance is issuing a total of 5, 52, 000 unit right shares at the face value of Rs 100. The book closure date for 120% right issue was set from Kartik 18, 2073 to till Mangsir 18, 2073 for a month. Only the shares registered one trading day ahead of the book closure dates i.e. Kartik 11, 2073 are eligible for the right shares. Laxmi Capital Market Limited has been assigned as the issue manager for right share issue. Interested shareholders can collect the application forms from Laxmi Capital Market Limited, New Baneshwor, Kathmandu and from NMB Capital Limited, Naagpokhari, Kathmandu. Also the application forms are available at Laxmi Bank Limited, Biratnagar, Nepalgunj, Dhangadi branch and at Hemja, Kaski, Udayapur, Taplejung, Salleri and Solukhumbu branch of NMB Microfinance. NMBMF had proposed 25 percent bonus share to its shareholders. The decision is subjected to appoval from its upcoming 4^th AGM which is going to be held on Mangsir 18, 2073. NMBMF has earned net profit of Rs 2.98 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 7.41 crore and after the issuance of 120 percent right share it’s paid up capital will rise to Rs 16.30 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its Last Traded Price stood at Rs 1,958as November 20, 2016.