Muktinath Bikas Bank to announce 34% bonus share; Right shareholders not eligible for bonus share
Fri, Sep 30, 2016 12:08 PM on Latest, Featured, AGM/Special AGM, Stock Market,

Muktinath Bikas Bank Limited (MNBBL) has decided to distribute 34 percent bonus share to its shareholders.
As per the official of Muktinath Bikas Bank, “The Company’s board of director (BOD) had decided to distribute 34 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The shareholders of 50 % right shareholders of the bank are not eligible for the bonus share.
The decision is subjected to approval from Nepal Rastra Bank and the development bank's upcoming Annual General Meeting (AGM).
Last year, MNBBL had distributed 31 percent bonus share to its shareholders.
Muktinath Bikas Bank will be issuing 2:1 (50%) right shares to its existing shareholders from Ashwin 21, 2073. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue.
After the adjustment of 50 percent right share, the bank’s total paid-up capital will reach to Rs 1.25 arba from existing Rs 83.84 crore. After issuance of 34 percent bonus share it’s paid up capital will reach Rs 1.67 arba.
Nepal Rastra Bank (NRB) had directed the national-level development banks to maintain paid up capital up to Rs 2 arba by the end of Asadh of 2074 BS. Muktinath Bikas Bank will again need to issue right or bonus share in future to meet the NRB requirement.