Mega Bank to auction 25% unclaimed 3.86 lakh units right shares at Rs 100 & above

Mega Bank Limited (MEGA) will be auctioning its ordinary and promoter right share to the general public. The commercial bank had floated 4:1 (81, 01,438 unit) right shares to its shareholders on Shrawan 27, 2073. It has listed only 77, 14, 556 units  right shares in Nepal stock Exchange Limited and remaining 3,86,882 units unclaimed right shares will  be sold through auction. As per an official of Mega Bank, “the bank will be selling 1, 68, 992 units promoter share and 2, 17, 890 units ordinary shares as right shares were not fully subscribed by the investors.” The date for the auction shares has not been fixed yet added the official. Recently Mega Bank has proposed 13.25 percent bonus and 65 percent right shares after the issuance of bonus share to their shareholders. Since the company has not published AGM notice and book closure date, the book closure date for AGM will be fixed before auction right share allotment. Auction shareholders will not get bonus share proposed by the bank. Mega Bank has earned net profit of Rs 14.69 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital stands at Rs 3.24 arba. After adjustment of 25 percent right share, its paid up capital will reach to Rs 4.05 arba. And after the distribution of 13.25 percent bonus and 65 percent right share, its paid up capital will reach Rs 7.55 arba.