Last day to bid 35,841 unit auctioned shares of Everest Bank; LTP at Rs 1,210

Everest Bank Limited (EBL) is closing its re-auction for unclaimed right shares today (Ashwin 27, 2074). The commercial bank is re-auctioning 35,841 units ordinary shares after the right shares issued from Asadh 18,2074 to Shrawan 22, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 15,088,087 units right shares in the ratio 3:1 and around 1.6% right shares (2,53,797units) were left unclaimed. In previous auction, only 2,17,956 unit shares are subscribed. The auction was open from Ashwin 20, 2074 and the bids will be opened to conclude the auction on Ashwin 29, 2074. NIBL Capital Market Limited is the issue manager for this auction. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.Interested bidders must bid for a minimum of 100 units of shares. Interested investors can collect bid forms from NIBL Capital Market Limited, Lazimpat, Kathmandu and submit their bids within office hours on Ashwin 1, 2074. The bank has urged all bidders to deposit the bid amount in account number 0124524616846016 maintained in the name of NIBL Capital Market Limited at Kumari Bank Limited. 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. 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 1.98 arba net profit in the fourth quarter in the fiscal year 2073/74. Its last traded price stood at Rs 1,210 as of last trading day.