Prime Bank To Issue 3:1 Right Share From August 29

August 14: Prime Commercial Bank will be issuing 3:1 right share to the shareholders from August 29.  The company will be issuing 12,350,874 unit of right shares to its existing shareholders with the face value of Rs 100 per share. The issuance of right share will close from October 2, 2016.

According to the bank, the interested existing shareholders can submit the purchase application from its issue manager Civil Capital and all branches of Prime Bank Ltd.  After the issuance of right share, the paid up capital of the bank is estimated to reach Rs 4.94 billion.

The bank has signed a memorandum of understanding (MoU) with BiratLaxmi Bikash Bank and Country Development Bank in order to increase its paid-up capital. The bank has predicted its earnings per share to reach Rs 18.67 and net profit to reach Rs 2.35 billion.