Sebon approves to issue 100% right share of Western Dev. Bank; 100% right share of Namaste Bittiya Sanstha added in Sebon right share pipeline

Securities Board of Nepal (SEBON) has given final approval to issue 1:1 (100%) right shares of Western Development Bank Limited (WDBL). Prabhu Capital Limited has been assigned as the issue manager for right share issue. Western Development Bank 10^th AGM held on Chaitra 30, 2072 had approved 100% right share i.e. 1,569,600 units to its existing shareholders. WDBL has earned net profit of Rs 4.02 crore in the fourth quarter of the last fiscal year 2072/73. It’s paid up capital remains at Rs 15.69 crore. After issuance of 100 percent right share, the paid up capital will reach to Rs 31.38 crore. Its last traded price stood at Rs as on September 18, 2016. Meanwhile, Namaste Bittiya Sanstha Limited (NBSL) has been added in SEBON right share pipeline for approval to issue 1:1 right share. NMB Capital Limited has been assigned as the issue manager for right share issue. Namaste Bittiya Sanstha Bank SGM held on Jestha 29, 2072 had approved 100% right share 375,000 units to its existing shareholders. NBSL has earned net profit of Rs 1.14 crore in the fourth quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 3.75 crore. After issuance of 100 percent right share, the paid up capital will reach to Rs 7.5 crore.