United Finance 25% right share closing today; LTP at Rs 455

Existing shareholders have one more day left to file for 4:1 (25%) ratio right shares of United Finance Limited (UFL). The finance company has been issuing right shares from Ashad 30, 2073 and today is the closing day for the same. United Finance has been issuing a total 11, 59, 836.13 unit right shares at the face value of Rs 100. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashad 19, 2073 would be eligible to apply for the right shares. Nabil Investment Banking Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from Nabil Investment Banking Limited, Central Plaza, Narayanchaur, Naksal , Kathmandu and from central and all branch offices of United Finance Limited. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 57.99 crore from existing Rs 46.39 crore. The bank has authorized capital of Rs 1arba. Its public-promoter share structure stands at 59.97:40.03 ratio. UFL had earned a net profit of Rs.  13.87 crore in the fourth quarter of the last  fiscal year 2072/73.. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue. Its last traded price stood (LTP) at Rs 455 as on September 8, 2016.