Saptakoshi Dev. Bank issuing 100% right shares from today; offer closes on Falgun 1

Saptakoshi Development bank Limited (SKDBL) is issuing 1:1 (100%) right shares to its existing shareholders from today (Poush 24, 2073). The rights issue will remain open for 35 days before closing on Falgun 1, 2073. Saptakoshi Development Bank will be issuing a total of 10,00,000 unit right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Poush 8, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Poush 7, 2073 are eligible for the right shares. NMB Capital Limited has been assigned as the issue manager for this right issue. Interested shareholders can collect the application forms from NMB Capital, Nagpokhari, Kathmandu, and all branch offices of Saptakoshi Development Bank and NMB Bank Limited. After the adjustment of the rights shares, the development bank’s total paid-up capital will reach Rs 20 crore from the existing Rs 10 crore. The bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 60:40 ratio. Saptakoshi Development will also be convening its 4^h Annual General Meeting (AGM) on Poush 28, 2073. The AGM will be endorsing 11% bonus share and 1:1.3 (130%) right share to its shareholders. After issuance of 100 percent right, 11 percent bonus and again 130 percent right share, its paid up capital will reach Rs 48.53 crore.