Triveni Bikas Bank to issue 50% (41 lakh units) right share from Kartik 23; Paid up capital to reach Rs 1.23 arba

Triveni Bikas Bank Limited (TBBL) will be issuing 2:1 (50%) right shares to its existing shareholders from Kartik 23, 2073. According to the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Mangsir 27, 2073. Triveni Bikas Bank will be issuing a total of 41, 00,076.42 unit right shares at the face value of Rs 100. The book closure date for 50% right issue has been set for Kartik 1, 2073 for one day. Only the shares registered one trading day ahead of the book closure date i.e. Ashoj 30, 2073 are eligible for the right shares. Ace Capital Limited is assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Ace Capital Limited, Laldurbar, Kathmandu, all branch offices of Triveni Bikas Bank and Ace Development Bank and also from Mahakali Bikas Bank Limited, Mahendranagar and Dhandagi. After the adjustment of the rights shares, the development bank total paid-up capital will reach to Rs 1.23 arba from existing Rs 82 crore. The development bank has authorized capital of Rs 2.50 arba. Its public-promoter share structure stands at 51:49 ratio. Its last trade price (LTP) stood at Rs 354 as on October 18, 2016. TBBL had earned net profit of Rs. 19.25 crore in the fourth quarter of the last fiscal year.