Shangrila Development bank to issue 25% right share

Kathmandu January 31- Shangrila Development Bank is issuing 25% right shares to its existing shareholders from February 21 to March 27 at the price of Rs. 100.

Bank is issuing 4:1 right share from its present paid up capital. As per the bank, shareholders who have acquired bank's share prior to March 4 can apply for the right shares. In this regard, book close will take place from March 4.

Presently, bank has Rs. 736 million paid up capital which will reach Rs. 920 million after the issuance of right share. Earlier, bank has proposed 20.85% bonus share from its profit earned in last FY.

NMB bank has been appointed as issue manager by the bank. Interested shareholders can apply from NMB capital as well as all the branches of Shangrila Development bank.