Progressive Finance 4:3 right share from Shrawan 17, LTP stood Rs 143

ShareSansar, July 14:

Progressive Finance Company Limited (PROFL) will be issuing Right Shares from Sharwan 17, 2072. The Finance Company Special general Meeting held on Baisakh 7, 2071 had decided to offer 4:3 right shares to its existing shareholders.

The Finance will issue a total of 9, 00,000 unit (4:3) right shares at the face value of Rs 100. The closing date for the right issue has been set for Bhadra 20. Growmore Merchant Banker Limited is the issue manager for this issue.

The company has a paid up capital of Rs 12 crore and after adjusting right shares the paid up capital will rise to Rs 21 crore.

The forms will be available at Progressive Finance office at Newroad, Kathmandu and Growmore Merchant Bank Limited in Durbarmarg.

Progressive Finance Limited ICRA Nepal assigns [ICRANP] IPO Grade 5 to the proposed

Rights Issue indicating poor fundamentals Offering amounting NPR 90 million, ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals.

The book closure date for 4:3 right issues had already set for Ashad 23. Only those shareholders registered one day ahead of the book closure date i.e. Ashad 22 can claim for the right shares.

Progressive Finance had reported a net profit of Rs 1.83 crore in its third quarter company analysis of the fiscal year 2071/72.

Its last traded price stood at Rs 143 as on July 7.