Mega Bank appoints Nabil Investment as issue manager to issue 65% right share
Wed, Jun 7, 2017 10:56 AM on Latest, Featured, Stock Market,
Mega Bank Nepal Limited has appointed Nabil Investment Banking Limited for its upcoming 65 percent right share.
Mr. Anil Kesary Shah, CEO of Mega Bank and Prabin Raman Parajuli, CEO of Nabil Investment signed an agreement yesterday.
Issuing the press statement published yesterday, it stated that Mega Bank’s 6th AGM had approved to issue 65 percent right share to its shareholders. The bank will be issuing a total of 29,78,534.33 units right shares worth Rs 2.97 arba to its shareholders at the par value of Rs 100.
After the issuance of right shares, its paid up capital will reach more than Rs 7 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, the bank will increase its capital to 8 arba from the profit it will earn in the coming fiscal year.
Mega Bank’s AGM had approved 13.95 percent bonus share including 0.70 percent cash dividend to its shareholders.
The trading of the bank has been suspended in Nepal Stock Exchange following its merger process with Tourism Development Bank Limited (TDBL).
After the issuance of right shares, its paid up capital will reach more than Rs 7 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, the bank will increase its capital to 8 arba from the profit it will earn in the coming fiscal year.
Mega Bank’s AGM had approved 13.95 percent bonus share including 0.70 percent cash dividend to its shareholders.
The trading of the bank has been suspended in Nepal Stock Exchange following its merger process with Tourism Development Bank Limited (TDBL).
