Siddhartha Bank to issue 25% (75.55 lakh units) right share from Kartik 11; Agricultural Dev. Bank to float 50% (1.96 crore units) right share from Kartik 3

Siddhartha Bank Limited (SBL) will be issuing 4:1 (25%) right shares to its existing shareholders from Kartik 11, 2073. According to the notice published by the commercial bank today, the rights issue will remain open for 35 days before closing on Mangsir 15, 2073. Siddhartha Bank will be issuing a total of 75, 55,193 unit right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Ashwin 17, 2073. Only the shares registered one day ahead of the book closure date i.e. Ashwin 16, 2073 are eligible for the right shares. Laxmi Capital Marrket Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Laxmi Capital Market Limited, Baneswor, Kathmandu, all branch offices of Siddhartha Bank Limited and Siddhartha Capital Limited located at Anamnagar, Kathmandu. After the adjustment of the rights shares, the bank total paid-up capital will reach to Rs 3.77 arba from existing Rs 3.02 arba. The bank has authorized capital of Rs 10.50 crore. Its public-promoter share structure stands at 51:49 ratio. Its last traded price (LTP) stood at Rs 1,109 as on October 6, 2016. SBL had earned net profit of Rs. 1.2 arba in the fourth quarter of the last fiscal year 2072/73. Likewise, Agricultural Development Bank Limited (ADBL) will be issuing 2:1 (50%) right shares to its existing shareholders from Kartik 3, 2073. According to the notice published by the commercial bank today, the rights issue will remain open for 35 days before closing on Mangsir 7, 2073. Agricultural Development Bank will be issuing a total of 1,96,88,000 unit right shares at the face value of Rs 100. The book closure date for 50% right issues has been set for Ashwin 10, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Ashwin 9, 2073 will be eligible for the right shares. Ace Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Ace Capital Limited, Lalcolony, Laldurbar, Kathmandu, all branch offices of Agricultural Devlopment bank  and Ace Development Bank  Limited. After 50% right share adjustment, ADBl’s total paid up capital will reach Rs. 11.33 ( irredeemable preference share of Rs 5.43 arba and public share of Rs 5.90 arba)  Its authorized capital remains at Rs 18 arba. Its last traded price (LTP) stood at Rs 683 as on October 6, 2016. Agriculture Development Bank has earned net profit of Rs 2.57 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report.