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Prabhu Bank appoints NCM Merchant Banking as issue manager

image006Prabhu Bank Limited (PBL) has appointed NCM Merchant Banking Limited as the issue manager for its upcoming 10:4 (40%) right shares. Ashok Sherchan, CEO of PBL and BijayLalShrestha, CEO of the merchant bank, signed the rights issue agreement.
PBL 15th AGM held on Poush 8, 2073 had endorsed the issuance of further 40% right shares to meet up NRB’s minimum capital requirement of Rs 8 arba by the end of this fiscal year 2073/74. It will be issuing a total of 2,35,25,608 units right shares to be floated to their existing shareholders at a face value of Rs 100 per share.

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