Sebon approves to issue 80% right share of Sagarmatha Finance; 100% right share of Bhargav Bikas Bank added in Sebon right share pipeline

Securities Board of Nepal (SEBON) has given final approval to issue 10:8 (80%) right shares of Sagarmatha Finance Limited (SAFL). NIBL Capital Markets Limited has been assigned as the issue manager for right share issue. Sagarmatha Finance 10^th AGM held on Ashad 3, 2072 had endorsed 80% right share i.e. 2,954,389 units to its existing shareholders. SAFL has earned net profit of Rs 13.90 crore in the fourth quarter of the last fiscal year 2072/73. It’s paid up capital remains at Rs 36.92 crore. After issuance of 80 percent right share, the paid up capital will reach to Rs 66.45 crore. Its Last Traded Price (LTP) stood at Rs 522 as on November 10, 2016. Meanwhile, Bhargav Bikas Bank Limited (BHBL) has been added in SEBON right share pipeline for approval to issue 1:1 (100%) right share. NMB Capital Limited has been assigned as the issue manager for right share issue. Bhargav Bikas Bank 8^th AGM held on Ashad 25, 2072 had endorsed 100% right share  1,200,000 units to its existing shareholders. BHBL has earned net profit of Rs 65.81 crore in the first quarter of the fiscal year 2073/74. It’s paid up capital remains at Rs 12 crore. After issuance of 100 percent right share, the paid up capital will reach to Rs 24 crore. Its LTP stood at Rs 535 as on November 9, 2016.