Issuing a press statement on Sunday, the bank said rights shares would be distributed at 1:9.5157 ratio. Rights shares would be distributed from May 23 till June 26. The bank is issuing rights shares to raise its paid-up capital of Rs 4 billion. It has authorized capital of Rs 6 billion. The government has already made payment of Rs 1.39 billion for rights shares that it is entitled to, according to the statement. It owns 38.6 percent stake in the country´s oldest bank. “Rights shares will be distributed from Citizen´s Investment Fund, Civil Capital market Limited and all the branch offices of the bank including the head office," said the statement.
Fair & Lovely with advanced pink formula
KATHMANDU: Fair & Lovely has launched a new fairness expert ´Fair & Lovely Advanced Multi-Vitamin´. According to a press statement issued on Sunday, the advanced fairness expert is targeted to those who have fairness problems like spots, tanned skin, under-eye dark circles, dull and dark skin. "The new fairness expert is dermatologist tested and has proven new advanced pink formula," said the statement. According to the company, this newest offering is not simply a cream but a daily fairness treatment which provides 5 experts like fairness treatment solutions: laser like precision on skin marks, face polish that targets sun tan, face peel targeting dullness, antioxidant lightening action on dark circles and vitamin mask to lighten skin color. The new product is available in a 9 gram sachet and 25 and 50 gram tubes.
BoK Bond 2076 oversubscribed
KATHMANDU: ´BoK Bond 2076´ has been oversubscribed, Bank of Kathmandu (BoK) said in a statement. The bank had floated 400,000 units of bonds worth Rs 1,000 each to raise Rs 400 million. The bond with maturity period of seven years carries a coupon interest rate of 8 percent per annum, the statement added. The issue, which was opened on April 25, closed on Friday.
IEML rolls back rent hike
MAKAWANPUR: Industrial Estate Management Ltd (IEML) has withdrawn the decision to raise the rent of land, building and go downs being rented to industries operating inside industrial estates across the country.
IEML has also invited agitating businessmen to sit for talks.
However, businessmen operating factories at industrial estates have vowed to continue their protests. They have demanded that the IEML sincerely implement the understandings reached with entrepreneurs and address their 11-point demands
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