United Finance 25% Right Shares offer begins from today; ends on Bhadra 1

United Finance Limited (UFL) is issuing 4:1 (25%) right shares to its existing shareholders from today (Ashad 30, 2073). The right issue will close on Bhadra 1, 2073. 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. United Finance is 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 from Nabil 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  420 as on July 13, 2016.