Progressive Finance 281% right share added in SEBON pipeline for approval

Progressive Finance Limited (PROFL) has been added in Securities Board of Nepal (SEBON) pipeline to request approval for the issuance of 1:2.81(281%) right shares. PROFL’s SGM had approved 281 percent right share to its shareholders. PROFL is seeking approval to issue 5,901,000 units shares to be floated a face value of Rs 100 per share. Sunrise Capital Limited has been appointed as the issue manager. Its current paid up capital stands at Rs 21.00 crore and after 281% right issue, it will reach to Rs 80.10 crore. PROFL has earned Rs 1.40 crore in the fourth quarter of the FY 2073/74.