Sebon approves to issue 50% & 120% right share of Nagbeli & NMB Microfinance respectively

Securities Board of Nepal (SEBON) has given final approval to issue 2:1 (50%) right shares of Nagbeli Laghubitta Bikas Bank Limited (NBBL). NMB Capital Limited has been assigned as the issue manager for right share issue. Nagbeli Laghubitta 6^th AGM held on Falgun 21, 2072 had approved 50% right share i.e. 125,000 units to its existing shareholders. NBBL has earned net profit of Rs 3.23 crore in the fourth quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.5 crore.  After issuance of 50 percent right share, the paid up capital will reach to Rs 3.75 crore. Its last traded price stood at Rs 4,411 as on September 28, 2016. Similarly, Securities Board of Nepal (SEBON) has given final approval to issue 1:1.2 (120%) right shares of NMB Microfinance Bittiya Sanstha Limited (NMBMF). Laxmi Capital Markets Limited has been assigned as the issue manager for right share issue. NMB Microfinance SGM held on Baisakh 25, 2073 had approved 120% right share i.e. 552,000 units to its existing shareholders. NMBMF has earned net profit of Rs 2.98 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 7.41 crore and after the issuance of 120 percent right share it’s paid up capital will rise to Rs 16.30 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its last traded price stood at Rs 4,170 as on September 28, 2016.