Western Dev. Bank to issue 100% (15.69 lakh units) Right Share from Mangsir 22; ends on Poush 26

Western Development Bank Limited (WDBL) will be issuing 1:1 (100%) right shares to its existing shareholders from Mangsir 22, 2073. According to the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Poush 26, 2073. Western Development Bank will be issuing a total of 15, 69,600 unit right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Kartik 2, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Kartik 1, 2073 are eligible for the right shares. Prabhu Capital Limited is the issue manager for the right issue. Interested shareholders can collect the application forms from Prabhu Capital, Kamaladi, Kathmandu and all branch offices of Western Development Bank. After the adjustment of the rights shares, the development bank’s total paid-up capital will reach to Rs 31.39 crore from existing Rs 15.69 crore. The bank has authorized capital of Rs 50crore. Its public-promoter share structure stands at 54:46 ratio. The development bank has earned net profit of Rs 29.58 lakh in first quarter of current fiscal year 2073/74.