Pokhara Finance’s 15% right share added in SEBON pipeline

Pokhara Finance Limited (PFL) has been added in Securities Board of Nepal (SEBON) right share pipeline to request approval for the issuance of right shares in the ratio 1:0.15 (15%). NIBL Capital Markets Limited has been assigned as the issue manager. Pokhara Finance’s 20^th AGM had approved to issue 15 percent right share to its shareholders. The finance company will be issuing a total of 983,682.74 units right shares worth Rs 9.83 crore to its shareholders at the par value of Rs 100. PFl had issued 9,83,682 units FPO shares worth Rs  21.64 crore at Rs 220 per unit on Shrawan 29, 2074. After the FPO, its paid up capital reached around Rs 65.57 crore from Rs 55.74 crore. Finally, after proposed 15% right share issuance, its paid up capital will reach Rs 75.40 crore. As a national level finance company, it should hike its paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74. Pokhara Finanace had earned Rs 8.77 crore net profit in the fourth quarter of the last fiscal year 2073/74,