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Prabhu Bank to commence right issue from January 21

Prabhu Bank Limited (PRVU) is commencing its 40 percent right issue from January 21. The bank is set to issue 23,525,608 units of right shares to its existing shareholder in the ratio of 10:4.

The bank has appointed Sunrise Capital as its issue manager. The shareholders can apply for the shares from the issue manager along with all the branches of Prabhu Bank. Moreover, the shareholders can apply through all the ASBA approved BFIs.

Prabhu Bank is closing its book on January 5, thus, the shareholders who get registered in its book by January 4 will be eligible to apply for the right shares.

Presently, the bank has a paid-up capital of Rs 5.88 billion which will reach Rs 8.23 billion after the right issue.

Securities Board of Nepal (SEBON) approved the 40 percent right shares to the bank on December 21.

In the first quarter of the current FY, the bank earned a net profit of Rs 250.7 million.

source:merolagani, 2 jan 2018



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