Shangri-La Development Bank floating 80% (1.08 crore units) right shares from Poush 17; offer ends Magh 21

Shangri-La Development Bank Limited (SADBL) is issuing 1,08,67,798.50 units right shares to its shareholders in the ratio 1:0.8 (80%) from Poush 17, 2074. The rights issue will remain open for 35 days before closing on Magh 21, 2074. The book closure date for the 80% right issue was set for Mangsir 27, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Mangsir 26, 2074 are eligible to apply for the right shares. Prabhu Capital Limited is the issue manager for the right issue. Interested applicants can collect application forms from Prabhu Capital Limited, Kamaladi, Kathmandu and also from designated branches of SADBL and also of Prabhu Bank Limited. The development bank ‘s 12^th AGM held on Jestha 19, 2074 had endorsed 1:0.8 right shares to their shareholders. After 80% right issue, its paid up capital will reach Rs 2.44 arba from existing capital of Rs 1.35 arba. As per NRB’s monetary policy, SADBL should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. After the issuance of 80% right share, the bank should issue a further Rs 6 crore capital increment. It had earned Rs 4.10 crore in the first quarter of the FY 2074/75.