Mon, Aug 6, 2018 8:38 AM
Progressive Finance Limited (PROFL) will be issuing its 281% right shares to its shareholders from Bhadra 05, 2075 till Ashoj 08, 2075.
The finance company is issuing 59,01,000 shares for its shareholders at a par value of Rs 100.
NIBL Ace Capital has been appointed as the issue manager for the right share auction. The interested shareholders can apply by submitting the forms in the financial institutions with C-ASBA service or through Meroshare.
Care Ratings Nepal had assigned Grade 5 rating to the right shares of PROFL indicating poor fundamentals.
The book closure for the right issuance has been set on Shrawan 23 i.e. the shareholders holding the shares till Shrawan 22 shall be eligible for the right shares.
The finance company’s current capital of Rs 21 crore will increase to Rs 80.01 crore after the adjustment of 281% right shares. The LTP of PROFL stands Rs 108 in the secondary market.