Sunrise Bank to issue 15% right shares from today; LTP stood Rs 441

Sunrise Bank Limited (SRBL) has called on its existing shareholders to start applying for 100:15 (15%) right share from today (Magh 11, 2072). The right issue will close on Falgun 16, 2072. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Poush 26, 2072 would be eligible to apply for the right shares. Sunrise Bank will be issuing a total of 36, 90,476 unit right share at the face value of Rs 100. Civil Capital Market limited has been assigned as 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 441 as on January 24, 2016.