SEBON approves Right Share of  Muktinath, Miteri & Araniko Development Bank

Securities Board of Nepal (SEBON) has given final approval to 2:1 (50%), 2:1 (50%) & 10:3.6 (36%) right issue of Muktinath Bikas Bank Limited (MNBBL), Miteri Development Bank Limited (MDB) and Araniko Development Bank Limited (ARDBL) respectively on Bhadra 15, 2073. Securities Board of Nepal (SEBON) has given final approval to issue 2:1 (50%) right shares of Muktinath Bikas Bank Limited (MNBBL) Muktinath Bikas Bank 9^th AGM held on Poush 28, 2072 had approved 50% right share i.e. 4,192,163.75 units right shares to its shareholders. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. MNBBL  has earned net profit of Rs. 35.88 crore in the fourth quarter of the last fiscal year. The paid up capital of the bank stands at Rs 83.84 crore. After the issuance of 50 percent right share, the paid up capital will reach to Rs 1.25 arba. Its last traded price stood at Rs 1488 as on August 31, 2016. Likewise, Securities Board of Nepal (SEBON) has given final approval to issue 2:1 (50%) right shares of Miteri Development Bank Limited (MDB). Prabhu Capital Limited has been assigned as the issue manager for right share issue. MDB’s 10^th AGM held on Poush 25, 2072 had approved 50% right share i.e. 1,056,369.60 units to its existing shareholders. MDB has earned net profit of Rs 9.72 crore in the fourth quarter of the last fiscal year 2072/73. It’s paid up capital remains at Rs 21.12 crore. After issuance of 50 percent right share, the paid up capital will reach to Rs 31.68 crore. Its last traded price stood at Rs 1100 as on August 31, 2016. Similarly, SEBON has given final approval to issue 10:3.6 (36%) right shares of Araniko Development Bank Limited (ARDBL). Siddhartha Capital Limited has been assigned as the issue manager for right share issue. The development bank’s 10^th AGM held on Falgun21, 2072 had approved 36% right share i.e. 928,190.34 units to its existing shareholders. ARDBL has earned net profit of Rs 5.84 crore in the fourth quarter of the last fiscal year 2072/73. It’s paid up capital remains at Rs 25.78 crore. After issuance of 36 percent right share, the paid up capital will reach Rs 35.06 crore. Its last traded price stood at Rs 435 as on August 31, 2016.