The board of directors meeting of the company held on July 22 decided to close its book on July 30 for the right issue. Thus, the shareholders registered in its book till July 21 will be eligible to apply for the right shares.
The company is issuing the right shares in a bid to meet the minimum paid-up capital requirement of Rs 1 billion. The company will issue 4,257,600 units of right shares worth Rs 725.7 million at a ratio of 10:24.
Care Rating Nepal has assigned Grade 4 to the right issue indicating below average fundamentals. Presently, the company has a paid-up capital of Rs 302.4 million that will reach Rs 1.02 billion after the right issue.
