Mega, Prime, Himalayan & Sindhu Bikas in final stage to issue Right Shares

Many bank and financial institutions (BFIs) have come up with right share issues lately. Some commercial and development banks are coming up with right share issues in near future. We have listed down the number of Commercial banks and Development banks which will be issuing the Right Share soon for the general public. Himalayan Bank Limited (HBL) is coming out with 7:1 right issue worth Rs 64.27 crore to its shareholders. The issue manager for the right issue is Laxmi Capital Markets Limited. Its 23^rd AGM held on Poush 8, 2072 had endorsed 7:1 (14.28%) right shares to their shareholders. As per the official of Laxmi Capital Markets Limited “The right share issue has been forwarded to SEBON for approval. We have received initial comment, whereas, final comment is yet to be received. As soon as Sebon approves the issue, we will float it in the public. Mostly the right share will be announced by the second week of Ashad.” Himalayan Bank has earned net profit Rs 1.31 arba in the third quarter of the fiscal year 2072/73. It has paid up capital of Rs 4.49 arba and after issuance of 14.28 percent right share it’s paid up capital will rise to Rs 5.1 arba. Mega Bank Nepal Limited (MEGA) will be issuing 4:1 (25%) right share worth Rs 81.01 crore to its existing shareholders. Global IME Capital Limited has been appointed as the issue manager for the right share issue. Mega Bank 5^th AGM held on Poush 26, 2072 had approved 4: 1 (25%) right share issue to its shareholders. An official of Mega Bank said, “The book closure notice for right shares will be published within month of Ashad.” Mega Bank has already received comments from Securities Board of Nepal (SEBON) regarding the issuance of 25 percent right shares. The bank has earned a net profit of 32.2 crore in the third quarter of the fiscal year 2072/73. After the right issue the bank’s paid up capital will reach Rs 4.05 arba. Likewise, Prime Commercial Bank Limited (PCBL) will be issuing 3:1 (33.33%) right share worth Rs 1.23 arba to its existing shareholders. Civil Capital Market Limited has been appointed as the issue manager for the right share issue. Kamal Khatri, Head of Merchant Banking of Civil Capital Market Limited said, “We have already received the first comment from SEBON and our target is to issue the right share most probably in the third week of Ashad.” PCBL has earned net profit of Rs.70.95 crore in the third quarter of the current fiscal year 2072/73. Its paid up capital remains at Rs 3.70 arba. After issuance of 33.33 percent right share, the paid up capital will reach Rs 4.93 arba. Prime Commercial Bank Limited (PCBL) has recently signed an agreement to acquire Biratlaxmi Bikas Bank Limited (BLDBL) and Country Development Bank Limited (CNDBL). Also, Sindhu Bikas Bank Limited (SINDHU) will also be issuing 1:1 (100%) right share worth Rs 12. 09 crore to its existing shareholders. NIBL Capital Markets Limited has been appointed as the issue manager for the right share issue. The development bank has got approval from Sebon to issue 1, 209, 375 units right share at Rs 100 As per the official of NIBL Capital Markets Limited “We have to issue the right share within 60 days after approval from Sebon. As for now no process has been furthered.” SINDHU has earned net profit of Rs 1.45 crore in the third quarter of the fiscal year 2072/73.Its paid up capital remains at Rs 12.09 crore. After 100% right issuance the paid up capital will reach Rs 24.18 crore.