SEBON approves to issue 175% & 100% Right Share of Manjushree Finance & Namaste Bittiya Sanstha respectively

Securities Board of Nepal (SEBON) has given final approval to issue 1:1.75 (175%) right shares of Manjushree Finance Limited (MFIL) on Kartik 22, 2073. Manjushree Finance SGM held on Jestha 26, 2072 had approved 175% right share i.e. 4,386,375, units right shares to its shareholders. Ace Capital Limited has been assigned as the issue manager for the right issue. MFIL has earned net profit of Rs. 90.84 lakh in the first quarter of the current fiscal year. The paid up capital of the bank stands at Rs 25.06 crore. After the issuance of 175 percent right share, the paid up capital will reach to Rs 68.91crore. Its last traded price stood at Rs 426 as on November 10, 2016. Likewise, Securities Board of Nepal (SEBON) has given final approval to issue 1:1 (100%) right shares of Namaste Bittiya Sanstha Limited (NBSL) on Kartik 24, 2073. Namaste Bittiya Sanstha SGM held on Jestha 29, 2072 had approved 100% right share i.e. 375,000 units to its existing shareholders. NMB Capital Limited has been assigned as the issue manager for the right issue. NBSL has earned net profit of Rs 27.28 lakh in the first quarter of the current fiscal year 2073/74. It’s paid up capital remains at Rs 4.65 crore. After issuance of 100 percent right share, the paid up capital will reach to Rs 9.3 crore. Its last traded price stood at Rs 720 as on November 9, 2016.