Green Development bank announces book close for 400% right shares

Green development bank has announced poush 17th as book close date for 400% right shares. Shareholders having the shares at the time of bookclose will be eligible for the right shares. 

The development bank will issue 40 lakh unit shares at a par value of Rs 100. Laxmi Capital has been appointed as the issue manager for the issue. ICRA Nepal has assigned "grade 5" rating for the upcoming issue, Indicating a below average rating. 

The development bank currently has a paid-up capital of Rs 10 crore. The bank will meet its paid-up requirement upon the issuance of the proposed right shares. The bank had a negative reserve of Rs 70.35 lakh as of 4th quarter 2073/74 report. The Earning per share stood at Rs 3.06 at that time. 

The development bank is currently being traded at Rs 588.