SEBON approves 48.02 lakh unit right shares issuance of three different companies

Securities Board of Nepal (SEBON) has approved the right issuance of three different companies.

SEBON has approved Prabhu Insurance Limited (PRIN) to issue 46% right shares to its shareholders. The insurance company will be issuing 31,66,677.63 unit shares at par value of Rs 100.

Prabhu Capital Limited has been appointed as the issue manager for the right issuance.

The paid up capital of the company will reach Rs 1 arba after the adjustment of 46% right shares.

Likewise, 25% right shares of Synergy Finance Limited (SYFL) has also got approval from SEBON. It will be issuing 11,86,022.47 unit right shares at par value of Rs 100.

Prabhu Capital has been appointed as the issue manager for the right issuance.

The current paid up capital of Rs 47 crore will reach Rs 59 crore after the right adjustment. The company is in acquisition process by Best Finance Limited. 

Mirmire Microfinance Development Bank (MMFDB) has also got approval from SEBON for 100% right issuance. 4,50,000 unit right shares will be issued for shareholders at par value of Rs 100.

NIBL Ace Capital has been appointed as the issue manager for the right issuance.

The paid up capital of the microfinance company will reach Rs 10.38 crore after the adjustment of 100% right shares and recently declared 30.80% bonus share.