Previously, the issue was scheduled to be issued from April 2. The issue was postponed due to the lockdown implemented by the government in order to curb the spread of coronavirus.
The company is issuing 9,385,200 units of right shares at a price of Rs 100 to its existing shareholders at a ratio of 1:1.
In this regard, the company closed its book on March 5, thus, the shareholders registered in its book till March 4 are eligible to apply for the right issue.
The company has appointed NMB Capital as its issue manager. The interested shareholders can apply for the shares from NMB Capital, designated branches of NMB Bank and Goodwill Finance and all C-ASBA approved BFIs. The issue will close on April 22. ICRA Nepal has assigned Grade 4+ rating to the right issue indicating below average fundamentals.
Presently, the company has paid-up capital of Rs 938.5 million that will reach Rs 1.87 billion after the right issue.
