Civil Laghubitta To Close 1:1 Right Issue On Bhadra 29

September 14, 2020 | Investopaper

Civil Laghubitta Bittiya Sanstha Limited (CLBSL) is going to close 1:1 right share on Bhadra 29, 2077. The 100 percent right share was open to its shareholders from Shrawan 25, 2077. Previously, the right issue was set to close on Bhadra 14, 2077. However, the board of directors meeting decided to extend to issue for 15 more days.

The microfinance company is floating 11,41,140 units right share to its shareholders. The right issue amounts to Rs. 11.41 crores.

Related: Upcoming Right Share/Issue In Nepal

Securities Board of Nepal (SEBON) provided the approval for the right issue on Falgun 14, 2076. The microfinance had submitted the application to SEBON on Poush 13, 2076.

Care Ratings Nepal has provided ‘Care-NP IPO Grade 4’ rating to the right issue. This indicated below average fundamentals for the company.

Century Capital Markets Limited is the issue manager for the right offerings of Civil Laghubitta.

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About Civil Laghubitta Bittiya Sanstha Limited (CLBSL)

Civil Laghubitta Bittiya Sanstha Limited, a subsidiary company of Civil Bank Limited was incorporated as a public limited company on 1st Chaitra 2067 (15 March 2011). The company started its operation from 21 Ashad 2069 (05 July 2012). It has its registered Head office at Chabahil, Kathmandu, Nepal.

Previously, Civil Laghubitta was called ILFCO Microfinanace Bittiya Sanstha.  Civil Bank merged with International Leasing and Finance. the  parent company of ILFCO Microfinance. After the merger, the ILFCO Microfinance changed into Civil Laghubitta Bittiya Sanstha Limited.

The promoters hold 60 percent ownership in the company. Likewise, the general public possess the remaining 40 percent shares.

The company has reported a profit of Rs 1.27 crores until the third quarter of the fiscal year 2076/77.

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