SEBON approves to issue 225% right share of Karnali Development Bank

Securities Board of Nepal (SEBON) has given final approval to issue 1:2.25 (225%) right shares of Karnali Development Bank Limited (KRBL). KRBL will be issuing 33.97 lakh units right shares worth Rs 33.97 crore to its existing shareholders at a face value of Rs 100 per share. Prabhu Capital Limited has been assigned as the issue manager for right share issue. The development bank’s SGM held on Ashad 3, 2074 had endorsed 1:2.25 right shares to their shareholders. Its paid up capital stand at Rs 15.10 crore and after issuance of 225% right share its paid up capital will reach Rs 49.07 crore. It has posted net loss of Rs 1.69 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 265 as of last trading day.