Sebon approves to issue 50% Right Share of Kanchan Dev. Bank; 100% right share of Sanima Mai Hydropower added pipeline

Securities Board of Nepal (SEBON) has given final approval to issue 2:1 (50%) right shares of Kanchan Development Bank Limited (KADBL) Global IME Capital Limited has been assigned as the issue manager for right share issue. Kanchan Development Bank Limited (KADBL)’s Special General Meeting (SGM) held on Ashad 4, 2073 had endorsed 50% i.e. 990, 000 units’ right share to eligible shareholders. KADBL has earned net profit of Rs 81.40 crore in the first quarter of the fiscal year 2073/74. It’s paid up capital remains at Rs 19.80 crore. After issuance of 50 percent right share, the paid up capital will reach to Rs 29.7 crore. Its Last Traded Price stood at Rs 534 as on November 21, 2016. Meanwhile, Sanima Mai Hydropower Company Limited (SHPC) has been added in SEBON right share pipeline for approval to issue 1:1 right share. NCM Merchant Banking Limited has been assigned as the issue manager for right share issue. Sanima Mai Hydropower 5^th AGM held on Bhadra 31, 2073 had approved 100% right share 10,550,000 units to its existing shareholders. SHPC has earned net profit of Rs 17.03 crore in the first quarter of the fiscal year 2073/74. It’s paid up capital remains at Rs 1.05 arba. After issuance of 100 percent right share, the paid up capital will reach to Rs 2.1 arba.