Multipurpose Finance Starts Issuing Right Shares from Today

Aug 27, 2023 09:38 AM Merolagani

Multipurpose Finance (MPFL) has started issuing right shares from today, August 27.

The company obtained approval from Securities Board of Nepal (SEBON) to issue 1:0.35 right shares. As per the approval, it will issue 1,582,000 units of shares at a face value of Rs 100.

Currently, the company has a paid-up capital of Rs 452 million which will reach Rs 610.2 million after the right issue.

In this regard, the company closed its book on July 28, thus the shareholders registered in its book till July 27 are eligible to apply for the right shares.

Informatics Credit Rating Nepal has assigned B rating to the issue indicating huge risks.

The company has appointed Muktinath Capital as issue manager. The interested existing shareholders of the company can apply from Muktinath capital and designated branches of Multipurpose Finance and Muktinath Bikas Bank.They can apply from all C-ASBA approved BFIs and Meroshare.

As per the company, it will mobilize the fund to maintain Rs 20 million liquidity with NRB, to extend loans of Rs 38.2 million, to expand branches with Rs 20 million and to purchase government bond of Rs 80 million.

comments powered by Disqus

Commercial Banks Cut Interest Rates, Again

Jul 15, 2024 09:22 AM

Commercial banks have published new interest rates for the upcoming month of Shrawan. As per the published notices, the average interest rates of the banks have declined for the upcoming month as well