Everest Bank to issue 33.33% (1.50 crore units) Right Share from Ashad 18; Offer ends on Shrawan 22

Everest Bank Limited (EBL) will be issuing 3:1 (33.33%) right shares to its existing shareholders from Ashad 18, 2074. According to notice published by the bank today, the right issue will remain open for 35 days before closing on Shrawan 22, 2074. The bank will be issuing a total of 15,088,087 unit right shares worth Rs 3.49 crore at the face value of Rs 100. The book closure date for 33.33% right issue is set for Ashad 7, 2074 for one day. Only the shares registered one day ahead of the book closure date i.e. Ashad 6, 2074 are eligible for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NIBL Capital, Lazimpat, Kathmandu as well as from designated branch offices of Everest Bank. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 6.03 arba from existing Rs 4.52 arba. The company has authorized capital of Rs 10 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.