Last day to apply for 33.33% right share of Everest Bank Limited

Everest Bank Limited (EBL) is closing 3:1 (33.33%) right shares to its existing shareholders today (Shrawan 22, 2074). The right issue was open for 35 days from Ashad 18, 2074. The bank is issuing a total of 15,088,087 unit right shares worth Rs 1.50 arba at the face value of Rs 100. The book closure date for 33.33% right issue was set on 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 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.