Sebon approves 33.33% & 30% right share of Prime & Century Commercial Bank respectively

Securities Board of Nepal (SEBON) has given final approval to issue 3:1 (33.33%) & 10:3 (30%) right shares of Prime Commercial Bank Limited (PCBL) and Century Commercial Bank Limited (CCBL) respectively. Civil Capital Limited has been assigned as the issue manager for both right share issues. Prime Commercial Bank 8th AGM held on Poush 29, 2072 had approved 1, 235,087,4 unit right share issue to its shareholders whereas, Century Commercial Bank 5^th AGM held on Magh 22, 2073 had approved 8,522,400 units right share issue to its shareholders. PCBL has earned net profit of Rs.70.95 crore in the third quarter of the current fiscal year 2072/73. It’s paid up capital remains at Rs 3.70 arba. After issuance of 33.33 percent right share, the paid up capital will reach Rs 4.93 arba. Prime Commercial Bank has recently signed an agreement to acquire Biratlaxmi Bikas Bank Limited (BLDBL) and Country Development Bank Limited (CNDBL). CCBL has earned net profit of Rs 23.24 crore in third quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.84 arba. After issuance of 30 percent right share, the paid up capital will reach Rs 3.69 arba. Recently, Century Commercial Bank had signed an agreement to acquire Innovative Development Bank Limited (INDB).