United Finance 25% right shares issuance from Ashad 30; Paid up capital to reach Rs 57.99crore

United Finance Limited(UFL) has called on its existing shareholders to start applying for 4:1 (25%) right shares from Ashad 30, 2073. According to the notice published by the finance company today, the rights issue will remain open for 35 days before closing on Bhadra 1, 2073. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashad 20, 2073 would be eligible to apply for the right shares. United Finance will be issuing a total 11, 59, 836.13 unit right shares at the face value of Rs 100. Nabil Investment Banking Limited is the issue manager for the right issue. Interested shareholders can collect the application forms fromNabil Investment Banking Limited, Central Plaza, Narayanchaur, Naxal , 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.  11.68 crore in the third quarter of the current fiscal year. 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 418 as on June 26, 2016.