Purnima Bikas Bank to issue 10.08 lakh unit right shares from Bhadra 1; Paid up to reach Rs 30.25 crore

Purnima Bikas Bank Limited (PURBL) will be issuing 2:1 (50%) right shares to its existing shareholders from Bhadra 1, 2073. According to the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Ashoj 4, 2073. Purnima Bikas Bank will be issuing a total 10, 08, 543.59 unit right shares at the face value of Rs 100. The book closure date for 50% right issue has been set for Shrawan 20, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 19, 2073 will be eligible for the right shares. Siddhartha Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Siddhartha Capital Limited, Anamnagar, Kathmandu and from central and all branch offices of Purnima Bikas Bank Limited and Siddhartha Bank Limited. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 30.25 crore from existing Rs 20.17 crore. The bank has authorized capital of Rs 25 crore. Its public-promoter share structure stands at 70:30 ratios. Purnima Bikas Bank had earned a net profit of Rs. 4.19 crore in the third quarter of the current fiscal year 2072/73. Its last traded price stood (LTP) at Rs 780 as on July 28, 2016.