Last day to apply for 100% (91.97 lakh units) right shares of Tourism Development Bank Limited; offer ends today

Tourism Development Bank Limited (TDBL) has been floating 1:1 (100%) right shares to its existing shareholders since Chaitra 13, 2073 and today is the last day to apply for the same. The company has been issuing a total of 9,197,712 unit right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Magh 7, 2073 for one day. Only the shares registered one trading day ahead of the book closure date i.e. Magh 6, 2073 are eligible to apply for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for this right issue. Interested shareholders can collect the application forms from NIBL Capital, Lazimpat, Kathmandu, and all branch offices of Tourism Development Bank. After the adjustment of the rights shares, the development bank’s total paid-up capital will reach Rs 1.83 arba from the existing Rs 91.97 crore. The bank has authorized capital of Rs 3 arba. Its public-promoter share structure stands at 51.78:48.22 ratio. TDBL has earned net profit of Rs 14.63 crore in the second quarter of the FY 2073/74. It has signed an agreement for merger with Mega Bank Nepal Limited (MEGA) due to which their trading is at halt in NEPSE. MEGA has also proposed 65% right share to its shareholders. After the issuance of right shares and subsequent merger in the share swap ratio of 100:95, the paid up capital of the merged entity will reach over Rs 9.48 arba.