Sebon approves 100% Right Share of Laxmi Laghubitta

Securities Board of Nepal (SEBON) has given final approval to issue 1:1 (100%) right shares of Laxmi Laghubitta Bittiya Sanstha Limited (LLBS). NMB Capital Limited has been assigned as the issue manager for right share issue. The microfinance’s 4^th AGM held on Poush 27, 2072 had approved 100% right share i.e.  1,100,000 units shares to its existing shareholders. LLBS had earned net profit of Rs. 6.24 crore in the fourth quarter of the last fiscal year. The paid up capital of the microfinance company stands at Rs 11 crore. After the issuance of 100 percent, the paid up capital will reach to Rs 22 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed right issue. Its last traded price stood at Rs 2970 as on August 29, 2016.