Sahayogi Vikas Bank issuing 35% right shares from today; offer ends Ashad 4

Sahayogi Vikas Bank Limited (SBBLJ) is issuing 35% right shares (11,01,135 units) to its shareholders from today (Jestha 1, 2074). The rights issue will remain open for 35 days before closing on Ashad 4, 2074. The book closure date for the rights issue was on Baisakh 15, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until today are eligible to apply for the right shares. NCM Merchant Banking Limited is the issue manager for this rights issue. Interested applicants can collect application forms from NCM Merchant Banking Limited, Kamalpokhari, Kathmandu and all branches of Sahayogi Vikas Bank. SBBLJ has earned net profit of Rs 9.29 crore in third quarter of the FY 2073/74. After the capitalization of 35% right shares, its paid up capital will reach Rs 42.47 crore. As per NRB’s directive for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, SBBLJ will need to issue a further capital hike of Rs 7.52 crore (17.80%).