Summit Microfinance issuing 7.25 lakh units (100%) right shares from Bhadra 29; offer ends Kartik 1

Summit Microfinance Development Bank Limited (SMFDB) is issuing 1:1 (100%) right shares to its existing shareholders from Bhadra 29, 2074. As per the notice published by the microfinance company today, the right issue will remain open for 35 days before closing on Kartik 1, 2074. The microfinance company is issuing a total of 7,25,000 unit right shares worth Rs 7.25 crore at the face value of Rs 100. The book closure date for 100% right issue was set for Bhadra 9, 2074 for one day. Only the shares registered one day ahead of the book closure date are eligible for applying for the right shares. Sanima Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Sanima Capital, Nagpokhari, Naxal Kathmandu as well as from designated branch offices of Sanima Bank and Summit Microfinance. Its current paid up capital stands at Rs 7.25 crore. After the issuance of 100% right shares, its paid up capital will reach Rs 14.5 crore. SMFDB has earned Rs 5.01 crore in the fourth quarter of the FY 2073/74. Its last closing price stood at Rs 2200 as of August 30, 2017.