Reminder; Last day to clinch 25% right share of United Finance; LTP at Rs 434

Today is the last day to get hold of 4:1 (25%) right share of United Finance Limited (UFL). The book closure date for 4:1 right issues has been set for tomorrow (Ashad 20, 2073) . Only the shares registered one day ahead of the book closure date i.e. today (Ashad 19) will be eligible for the right shares. United Finance will be issuing a total 11, 59, 836.13 unit right shares at the face value of Rs 100 from Ashad 30, 2073. Nabil Investment Banking Limited is the issue manager for the right issue. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 57.99 crore from existing Rs 46.39 crore. The bank has authorized capital of Rs 1arba. Its public-promoter share structure stands at 59.97:40.03 ratio. UFL had earned a net profit of Rs.  11.68 crore in the third quarter of the current fiscal year. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its last traded price stood (LTP) at Rs 434  as on June 30, 2016.