Sunrise Bank extends its 15% right share issue till Chaitra 7;LTP stood Rs 442

Sunrise Bank Limited (SRBL) has extended its ongoing 15% (100:15) right share issue till Chaitra 7, 2072. Now, the investors have 21 more days to apply for the right issue.

 The commercial bank has been issuing right shares from Magh 11, 2072 and today is the closing day for the same. The shareholders of SRBL as of Poush 25,2072 are only eligible to apply for the right shares.

Sunrise Bank is issuing a total of 36, 90,476 unit right share at the face value of Rs 100.

Civil Capital Market limited is the issue manager for the right issue.

Interested shareholders can collect the application forms from the any branch of Sunrise Bank as well as from the Civil Capital Market Limited located at Kathmandu Plaza, Kamaladi, Kathmandu.

After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 2.82 arba from the existing Rs 2.46 arba. The bank authorized and issued capital will reach Rs 5 arba and 2.82 arba respectively after issuance of right share.

SRBL has earned a net profit of Rs 11.78 crore in its first quarter of the fiscal year 2072/73.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue of Sunrise Bank.

The last trading price of SRBL stood at Rs 442 as on February 25, 2016.