Only 5 trading days left to secure 30% right share of Siddhartha Bank; Book Closure on Jestha 16

  Siddhartha Bank Limited (SBL) has announced book closure date for its upcoming 10:3 (30%) right share issue. As per the notice published by the commercial bank today, the book closure date has been set for Jestha 16, 2074. Only those shareholders holding shares one trading day ahead of the book closure date i.e. until Jestha 14, 2074 are eligible to apply for the right shares. Siddhartha Bank will be floating a total of 15,752,578.13 units right shares to its shareholders at a face value of Rs 100 per share. Laxmi Capital Markets Limited has been assigned as the issue manager. SBL has earned net profit of Rs 95.70 crore in the second quarter of the fiscal year 2073/74. Its paid up capital currently stands at Rs 5.25 arba. After the issuance of 30% right shares, its paid up capital will reach Rs 6.82 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SBL will need to issue a further capital hike of around 17.30%.