Sagarmatha Finance to issue 80% (29.54 lakh units) right shares from Poush 11; ends on Magh 17

Sagarmatha Finance Limited (SAFL) will be issuing 10:8 (80%) right shares to its existing shareholders from Poush 11, 2073. According to the notice published by the finance company today, the right issue will remain open for 35 days before closing on Magh 17, 2073. Sagarmatha Finance will be issuing a total of 29, 54, 389 unit right shares at the face value of Rs 100. The book closure date for 80% right issue was set for Mangsir 24, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. today (Mangsir 23, 2073) are eligible for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NIBL Capital, Lazimpat, Kathmandu and from all branch offices of Sagarmatha Finance. After the adjustment of the rights shares, the finance company’s total paid-up capital will reach to Rs 66.47 crore from existing Rs 36.92 crore. The bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 52.55:47.45 ratio. SAFL has earned net profit of Rs 3.27 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report.