Last day to clinch 33.33% right shares of Everest Bank; LTP stood at Rs 1665

Today is the last day to get hold of 3:1 (33.33%) right share of Everest Bank Limited (EBL). 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. today are eligible 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 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 1,665 as of June 19, 2017.