Prime Commercial Bank AGM approves bonus stock, rights issue

KATHMANDU (REPUBLICA): The eighth annual general meeting (AGM) of Prime Commercial Bank Ltd has approved a proposal from its board of directors to distribute 18.95 percent stock dividend to shareholders. Issuing a statement, the bank said its AGM, held on Wednesday, also approved the board's proposal for a 3:1 rights issue after distributing 18 percent bonus shares. "The AGM also provided approval for increasing of authorized capital to Rs 10 billion from the current Rs 5 billion," the statement added.

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