Womi Microfinance to issue 100% right share from today
July 25, 2019 | Investopaper
Womi Microfinance is going to issue 1:1 right share to the shareholders from today (Shrawan 9, 2076). The company will issue 10,10,880 units right share at the par value of Rs. 100. So, it is planning to raise Rs. 10.11 crores in capital through the issue of the right share.
The right issue will remain open until Bhadra 11, 2076.
For the purpose of the right issue, the book close date was on Ashar 27, 2076.
The microfinance will operate at the national level after it received permission from Nepal Rastra Bank. The company had declared a 25% cash dividend to the shareholders from the profit of 2074/75.
ICRA Nepal has provided IPO Grade 4+ ratings to the right issue of Womi Microfinance. This indicates below-average fundamentals of the company.
Sebon provided the approval for right share on Ashar 12, 2076.
Womi Microfinance has reported impressive growth in the fourth quarter of fiscal year 2075/76. To see the fourth-quarter performance report, click here.
Based on the fourth quarter report of 2075/76, the company has paid-up capital of Rs. 10.11 crores. After the inclusion of the right share, the paid-up capital will reach Rs. 20.22 crores.
Womi Microfinance is also in the merger agreement with Nagarik Laghubitta.
