Mega Bank refunding money to non-allottees of 3.86 lakh units auctioned shares from today

Mega Bank Nepal Limited (MEGA) had auctioned its 2,17,890 units ordinary shares and 1,68,992 units promoter right shares to the general public from Chaitra 17, 2073 till Chaitra 20, 2073. The non-allottees of the auction are being refunded their money from today. The non-allottees of the auction will be issued their refund warrants from the respective collection centers where they had submitted their bids (Nabil Invest, Naxal or Mega Bank, Rising Mall). As per Nabil Investment Banking Limited, the issue manager for the auction, the cutoff price for ordinary shares was Rs 410 and for promoter shares was Rs 137. 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.