Sebon approves to issue 50% right share of Mount Makalu Dev. Bank
- ShareSansar, October 10, 2017 on Dividend, Right & Bonus , Featured , Latest , Stock Market
Securities Board of Nepal (SEBON) has provided final approval for 2:1 (50%) right share issue of Mount Makalu Development Bank (MMDBL) on Ashwin 23, 2074.
MMDBL will be issuing 3,45,880 units right shares worth Rs 3.45 crore each to be floated to its existing shareholders at par value of Rs 100 per share. NIBL Capital Markets Ltd. is the issue manager for the right share.
MMDBL’s 6th AGM held on Falgun 25, 2073 had endorsed 50% right shares to their shareholders. MMDBL has a paid up capital of Rs 6.91 crore at present. After issuance of 50% right share, its paid up capital will reach to Rs 10.37 crore. As a 1 district-level development bank (based in Tehrathum), it will need to increase its paid up capital to Rs 50 crore by the end of FY 2073/74.
Trading of Mount Makalu Development Bank has been suspended in NEPSE as it has signed an agreement for the acquisition by Kabeli Bikas Bank Limited.