Last day to secure 80% Right Shares of Nepal Bangladesh Bank; Book Closure tomorrow

Today is the last day to get hold of 10:8 (80%) right shares of Nepal Bangladesh Bank Limited (NBB). The bank has set the book closure date for the right issue on Chaitra 17, 2073. Only those shares traded one trading day ahead of the book closure day i.e. today are eligible to apply for the right shares. Nepal Bangladesh Bank had received approval from SEBON to issue 3,20,94,068.80 units right shares in the ratio 10:8 (80%) on Falgun 17, 2073. Global IME Capital Limited has been assigned as the issue manager for the right share. NBB has earned net profit of Rs 54.06 crore in the second quarter of the fiscal year 2073/74. Its paid up capital after distribution of 32% bonus share for the FY 2072/73 stands at Rs 4.01 arba. After the issuance of 80% right shares, its paid up capital will reach Rs 7.21 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, NBB will need to increase its capital by a further 10.85%. Its Last Traded Price (LTP) stood at Rs 747 as on March 28, 2017.