Machhapuchchhre Bank to refund auction money to non-allottee investors from Chaitra 13

Machhapuchchhre Bank Limited (MBL) will be refunding 3.71 lakh units auction money to the non-allottee investors from Chaitra 13, 2073 (Sunday). As per an official of Civil Capital Markets Limited, “We will most likely be publishing the refund notice tomorrow and the auction money will be refunded on Sunday.” The non-allottee investors have to collect their refunds from Civil Capital Market Limited, Kamaladi, Kathmandu—added the official. Machhapuchchhre Bank  had auctioned its unclaimed 3,23,206 units ordinary and 48,623 units promoter right shares to the general public from Falgun 27, 2073 till Chaitra 3, 2073. The bids were opened on Chaitra 4, 2073. The cut off price for 3,23,206 units ordinary shares stood at Rs 325.50. The highest bid amount for the auction shares received was Rs 380. 5055 applicants had submitted their bids for 3,23,206 unit ordinary shares and only 219 of them got shares. For 48,623 units promoter shares, the bank has set a cut off price of Rs. 211.3. The highest bid amount for the auction shares received was Rs 301. Only 33 applicants had submitted their bids for 48,623 units promoter right shares and 9 of them got shares. Its 18^th AGM had endorsed 20.75% stock dividend for the FY 2072/73 and further right share of 12%. After the allotment of shares in this auction, and the capitalization of 20.75% bonus and further 12% right share, its paid-up capital will reach 7.39 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to Rs 8 arba by the end of FY 2073/74, MBL will need to issue a further capital hike of 8.25% against an annualized EPS of Rs 24.66 as of the end of Q2 this year.