Prime Bank releasing 3:1(1.23 crore units) right shares from today

Prime Commercial Bank Limited (PCBL) is issuing 3:1 (33.33%) right shares to its existing shareholders from today (Bhadra 12, 2073). The rights issue will close on Ashoj 16, 2073. Prime Commercial Bank is issuing a total 1, 23, 50, 874 unit right shares at the face value of Rs 100. The book closure date for 33% right issue was set for Shrawan 19, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 18, 2073 will be eligible for the right shares. Civil Capital Markets Limited is the issue manager for the right issue. Shareholders can collect the application forms from Civil Capital Market Limited, Kamaladi, Kathmandu and from central and all branch offices of Prime Commercial Bank. PCBL has earned net profit of Rs 1.12 arba in the fourth quarter of the current fiscal year 2072/73. It’s paid up capital remains at Rs 3.70 arba. After issuance of 33.33 percent right share, the paid up capital will reach Rs 4.93 arba. Prime Commercial Bank has recently signed an agreement to acquire Biratlaxmi Bikas Bank Limited (BLDBL) and Country Development Bank Limited (CNDBL). Its last traded price stood (LTP) at Rs 645 as on August 24, 2016.