SEBON approves to issue 40% right shares of Prabhu Bank

Securities Board of Nepal (SEBON) has given final approval to issue 10:4 (40%) right shares of Prabhu Bank Limited (PRVU). PRVU will be issuing 2.35 crore units right shares worth Rs 2.35arba to its existing shareholders at a face value of Rs 100 per share. Sunrise Capital Market Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 8.24 arba after 40% right share adjustment from existing Rs 5.88 arba. It had posted net profit of Rs 25.07 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 347 as of last trading day.