Mega Bank auctioning unclaimed 3.86 lakh units shares at Rs 100 & above from today

Mega Bank Nepal Limited (MEGA) is auctioning its ordinary and promoter right shares to the general public from Chaitra 13, 2073. It is selling 2,17,890 units ordinary shares and 1,68,992 units promoter shares after the right shares issued on Shrawan 27, 2073 were not fully subscribed by its shareholders. The commercial bank had offered right shares in the ratio of 4:1. The auction will last till Chaitra 20, 2073. The bid will open to conclude the auction on Chaitra 21, 2073 at 3:00 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of shares and the shares applied for should be a multiple of 10. The applicants can apply for a maximum of 10,000 units of shares. Nabil Investment Banking Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within 3:00 PM till Chaitra 20, 2073 at Nabil Investment Banking Limited, Naxal, Kathmandu or Mega Bank, Rising Mall, Kamaladi. The investors applying for the auction can deposit the bid amount in the account number 0010010246269 maintained in the name of Nabil Investment Banking Limited at Mega Bank Limited. MEGA has earned Rs 37.09 crore in the second quarter of the fiscal year 2073/74. The unclaimed right shares are not eligible for the 13.25 percent bonus shares. MEGA’s paid-up capital after the recently issued 25% right stands at Rs 4.01 arba. Its paid up capital after the issuance of 13.25% bonus and 65% right will reach Rs 7.56 arba. Mega Bank and Tourism Development Bank have signed an MOU on Magh 6, 2073 for merger with swap ratio of 100:95. The trading of the bank has been suspended in Nepal Stock Exchange following the merger process. After the merger, the paid up capital of the merged entity will reach Rs 9.48 arba.