Kumari Bank to issue right shares worth Rs 1.19 arba from Baisakh 28; Paid up capital of the bank to reach Rs 7.15 arba after the right issuance

Kumari Bank Limited (KBL) will be issuing 20% right shares for its existing shareholders from Baisakh 28, 2075. The issue will be closed on Jestha 31, 2075.

The bank will be issuing 1,19,38,991.65 unit right shares at a par value of Rs 100.

The book closure date for the right share issuance had been set on Baisakh 10, 2075 i.e. the shareholders holding the shares of Kumari Bank till Baisakh 09 (today) will be eligible for the 10:2 right shares.

NIBL Ace Capital has been appointed as the issue manager for the right issue.

The interested applicants can collect the application forms from NIBL Ace Capital or any designated branches of Kumari Bank Limited

Currently, the paid-up capital of the bank stands at Rs 5.96 arba. After the issuance of the right shares, the paid-up capital of the bank will stand at Rs 7.15 arba. The bank’s paid up capital will still be short by 85 crore from the requirement set by Nepal Rastra Bank which is much likely to be attained by issuance bonus share.