Mega Bank to issue 65% (2.97 crore units) right shares from Bhadra 27; Offer ends on Ashwin 30

Mega Bank Nepal Limited (MEGA) will be issuing 10:6.5 (65%) right share to its shareholders from Bhadra 27, 2074. As per the notice published by the commercial bank today, the rights issue will remain open for 35 days before closing on Ashwin 30, 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 will be 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). 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.