Mega Bank 65% & Best Finance 125% right shares closing tomorrow

Mega Bank Nepal Limited (MEGA) and Best Finance Company Limited (BFC) is closing right issue tomorrow (Kartik 14, 2074). Mega Bank Nepal Limited (MEGA) has been issuing 10:6.5 (65%) right share to its shareholders from Bhadra 27, 2074. The book closure date for the rights issue was set on Magh 6, 2073. Only those shares registered one trading day ahead of the book closure date i.e. till Magh 5, 2073 are eligible to apply for the right shares. Nabil Investment Banking Limited is the issue manager for the right issue. MEGA is issuing 2,97,85,034.63 units right shares at a par value of Rs 100 per unit. Nabil Investment Banking Limited is the issue manager for this right issue. MEGA’s current paid up capital remains at Rs 4.58 arba. After issuance of this 65% right share, its paid up capital will reach Rs 7.56 arba. It has authorized capital of Rs 10 arba Interested applicants can collect application forms from Nabil Investment Banking Limited, Narayanchaur, Naxal, Kathmandu and all branches of Mega Bank Limited. Mega Bank has earned net profit of Rs 79.14 crore in the fourth quarter of last FY 2073/74. The trading of the bank has been suspended in Nepal Stock Exchange following its merger process with Tourism Development Bank Limited (TDBL) in the share swap ratio of 100:95. Mega Bank’s AGM had also approved 13.95 percent bonus share which includes 0.70 percent cash dividend for tax purpose to its shareholders. As per the provision of BAFIA 2063, the shareholders of any merged entity are not liable to pay any kind of taxes. In case of Mega bank also shareholders who had shares before merger with Paschimanchal Development Bank will get 0.70% cash dividend declared for tax purpose directly in their bank account if updated with their respective demat number. Also, shareholders holding promoter shares can renounce their shares to others but first priority should be given to existing promoters of own category and in case if not possible renounce can be done to other category as well. Likewise, Best Finance Company Limited (BFC) has also been issuing 1:1.25 (125%) right share to its shareholders from Bhadra 27, 2074. The book closure date for the rights issue was set on Shrawan 25, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Shrawan 24, 2074 are eligible to apply for the right shares. BFC is issuing 16,52,850 units right shares at a par value of Rs 100 per unit. Global IME Capital Limited is the issue manager for this right issue. BFC’s current paid up capital remains at Rs 13.22 crore. After issuance of this 125% right share, its paid up capital will reach Rs 29.75 crore. It has authorized capital of Rs 30 crore. Interested applicants can collect application forms from Global IME Capital Limited, Jamal, Kathmandu and from designated branches of General Finance and Global IME Bank. Best Finance has earned net profit of Rs 2.86 lakh in the fourth quarter of the FY 2073/74. Recently, Best Finance has signed MOU with Synergy Finance Limited (SYFL) for acquisition process.