Mahuli Laghubitta Bittiya Sanstha Limited (MSLB) has submitted a formal proposal to the Securities Board of Nepal (SEBON) to initiate a Further Public Offering (FPO). The company’s aim with this FPO is to issue 475,449 additional shares, raising a total of Rs. 47,544,915 in capital. Similar to an Initial Public Offering (IPO), the general public will have the opportunity to apply for these shares at a par value of Rs. 100 per share.
Sunrise Capital has been appointed as the issue manager for this offering, and the application for the FPO was officially submitted to SEBON on Bhadra 24.
As of now, MSLB’s current paid-up capital stands at Rs. 32.23 Crores. However, upon the successful issuance of the FPO, the paid-up capital will experience an increase, reaching Rs. 36.99 Crores.
It’s worth noting that ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B Minus) to Mahuli Laghubitta Bittiya Sanstha Limited. This rating suggests that issuers with this designation are assessed to have a moderate risk of default in terms of fulfilling their financial obligations in a timely manner.
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Garima Bikas Bank Limited (GBBL) has announced its 17th Annual General Meeting (AGM) scheduled for Poush 29, 2080. The venue for the meeting is set at Hotel Pokhara Grande in Pokhara, Kaski. One of the key agenda items for the AGM is the endorsement of a 10% dividend for the fiscal year 2079/80. This decision was reached during the 297th meeting of the board of directors held on Poush 04, 2080. The proposed distribution includes 9.50% bonus shares totaling Rs. 49.28 crores and 0.50% cash dividend (inclusive of tax) amounting to Rs 2.59 Crores. Another significant agenda involves the endorsement of the auditor’s report, encompassing profit and loss statements, financial reports, and cash flow reports. Additionally, the appointment of an auditor for the fiscal year 2080/81 is on the agenda. There is also a proposal to increase the authorized capital of the company to Rs. 5.70 Arba. Furthermore, there is an agenda addressing the identification of a suitable development bank for potential merger and acquisition with Garima Bikas Bank Limited. The book closure date is set from Poush 17 to Poush 29, allowing shareholders holding shares before this period to be eligible for the dividend payout and attend the AGM.
