Book Closure for 33.33% right share of Everest Bank on Ashad 7; only 6 trading days left

Everest Bank Limited (EBL) has set book closure date for its upcoming 3:1 (33.33%) right shares. As per the notice published in NEPSE today, the bank has decided to close the register of their shareholders on Ashad 7, 2073 for the purpose of issuing right share. Only those shareholders that have shares traded ahead of the book closure date will be eligible to apply for the right shares. SEBON had given approval for the issuance of right shares on Baisakh 20 , 2074. NIBL Capital Markets Limited has been assigned as the issue manager for right share issue. EBL will now be issuing 1,50,88,087 units right shares at a par value of Rs 100 per unit. After the issuance of 33.33% right shares, its paid up capital will reach Rs 6.03 arba. As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, EBL will need to issue a further capital hike of around 32.50%. EBL has earned Rs 1.52 arba in the third quarter of the FY 2073/74. Its SGM has also provided authority to its BOD to initiate merger/acquisition with appropriate BFIs. Its last closing price stood at Rs 1,684 as of June 12, 2016.