Sebon approves to issue 50% right share of Kabeli Bikas Bank

SEBON has provided final approval for 2:1 (50%) right share issue of Kabeli Bikas Bank (KEBL) today (Ashad 18, 2074). KEBL will be issuing 3,50,880 units right shares worth Rs 3.50 crore each to be floated to its existing shareholders at par value of Rs 100 per share. Global IME Capital Ltd. is the issue manager for the right share. KEBL 8^th AGM conducted on Jestha  29, 2073 had endorsed the agenda to issue 50% right shares and 20% bonus share.  KEBL’s paid up capital after its 20% bonus issue stands at Rs 6.37 crore. After the issuance of 50% right, its paid up capital will reach Rs 9.55 crore. Again, the company’s 9^th AGM had endorsed 20% bonus and 50% right share to its shareholders. Kabeli Bikas Bank had signed an agreement to acquire Mount Makalu Development Bank Limited (MMDBL). MMDBL 50% right share is also in the SEBON pipeline. Its LTP stood at Rs 549 as on June 28, 2017.