Only 4 trading days left to clinch 30% right shares of Sunrise Bank; Book closure on Baisakh 30

SEBON had recently provided approval to Sunrise Bank Limited (SRBL) for the issuance of 30% right shares. The bank has announced book closure date for the issue. As per the notice published by the commercial bank, the register of their shareholders will close on Baisakh 30, 2074 for one day. Only those shareholders holding shares that have been traded one trading day ahead of the book closure date i.e. until Baisakh 28, 2074 are eligible to apply for the right shares. SRBL will be issuing a total of 16,359,636 units shares to its shareholders, each to be floated at a face value of Rs 100 per share. Prabhu Capital Limited has been appointed as the issue manager. SRBL has earned net profit of Rs 85.79 crore in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 5.45 arba. After the issuance of 30% right share, its paid up capital will reach Rs 7.09 arba. As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SRBL will need to increase its capital by a further 12.85%.