Western Development Bank Limited has extended its ongoing 100% right shares till Magh 12

Western Development bank Limited (WDBL) has extended the closing date for its ongoing 1:1 (100%) right shares to its existing shareholders till Magh 12, 2073 (January 25, 2017). Earlier, the closing date was set for Poush 26. Western Development Bank is 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 the existing Rs 15.69 crore. The bank has authorized capital of Rs 50 crore. Its public-promoter share structure stands at 54:46 ratio. The development bank has earned net profit of Rs 29.58 lakh in the first quarter of current fiscal year 2073/74.